Reuters, 8/21/2012
SAO PAULO, Aug 21 (Reuters) – Brazilian online fashion retailer Dafiti said on Tuesday that it would receive $45 million from J.P. Morgan Asset Management in a cash-for-equity deal that underscores investors’ appetite for the country’s fast-growing Internet market.
The announcement comes less than a month after a fund launched by U.S. firms Redpoint Ventures and e.ventures raised $130 million to invest in Brazilian mobile, media and cloud-service projects.
Dafiti, Brazil’s answer to Amazon.com Inc’s popular Zappos.com online shoe and fashion store, says it will use the cash to improve logistics, expand into other segments such beauty and home decor, and to bolster recently launched operations in Argentina, Chile, Colombia and Mexico.
