Vinod Sreeharsha – The New York Times, 10/02/2012
Peter Thiel’s Valar Ventures Management has made its first foray in Brazil, leading an investment in an e-commerce start-up that is trying to shake up the traditional furniture market here and take on an established retailer recently acquired by the Carlyle Group.
Oppa, a design and furniture e-commerce company based in São Paulo, recently closed on $10.47 million in financing, according to securities filings. Mr. Thiel’s Valar led the round.
Oppa was founded by Max Reichel, a German expatriate. A former McKinsey consultant with an M.B.A. from Harvard, Mr. Reichel is trying to bridge e-commerce with design, selling products the company itself creates while also expanding opportunities for designers.