A Locaweb announced another acquisition. The company bought Bagy, an e-commerce platform focused on social commerce, which allows people to create virtual stores, connect to their social networks and other market places and start selling.
The platform has 13,500 active users and targets small and medium-sized companies, virtual influencers and individuals to have a presence in retail. The trading values were not revealed.
“I have been following the power of Social Commerce as a driver of online sales for some time, especially in China, which is already more consolidated in this market. Now, I am very proud to announce the acquisition of Bagy, this platform that is a reference in Social Commerce in Brazil” says Fernando Cirne, CEO of Locaweb.
According to Locaweb, the objective is to strengthen its presence in this market segment, with an eye on a possible future that is similar to what happens in other countries. In China, for example, this market turned over 200 billion dollars in 2020 and should double in size by next year.
Locaweb is in an acquisition frenzy. In the last quarter of last year, the company invested 322 million reais in 5 companies that it acquired in the period, such as Social Miner, Etus and Vindi, the latter being the largest.
This year, the appetite continued after the company bought Bling management software for 524 million reais in April.