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@exame99 announces the return of 99Food and R$ 1 billion in investment to expand super app in Brazil https://t.co/4iPf1EIkpZ https://t.co/Cpvi1H3hnK
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Chinese Company 99 to Relaunch 99Food Delivery in Brazil with R$1 Billion Investment to Compete with iFood After Meeting Minister Alckmin
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The Chinese company 99 is set to relaunch its food delivery service, 99Food, in Brazil with an investment of up to R$1 billion. This move aims to compete directly with the dominant player in the market, iFood. The announcement follows a meeting with Brazilian Minister of Development Geraldo Alckmin. The relaunch and investment are part of 99's broader strategy to expand its super app offerings in the Brazilian market. In related business news, Rodrigo Perri, co-CEO of Vivenda do Camarão, discussed the company's adaptation to changing consumer behaviors and the impact of delivery services on growth. Additionally, Junior Borneli, CEO of StartSe, spoke about the potential entry of Meituan, a Chinese rival to iFood, into Brazil. Rafael Estevez, CEO of Laser&Co, was featured in an interview on VEJA S/A, highlighting ongoing developments in the business sector.
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