Vinod Sreeharsha – The New York Times, 06/28/2012
SAO PAULO — There is something of a baby boom going on in Brazil’s burgeoning e-commerce sector.
Sao Paulo-based Baby has secured $16.7 million in additional financing to grow its online baby and maternal product business.
Accel Partners led the round, which was stretched out over several months. Tiger Global also participated in what for them was a follow-on investment in the company.
While these two firms closed in February, additional investors Valor Capital Group, Menlo Ventures, Greenoaks Capital, and Chamath Palihapitiya joined the round’s final phase, which closed last week. Mr. Palihapitiya also invested in the company’s initial round.