Since August, the Jump Bike rental service is available in Mexico City. Users can rent these electric bicycles from the Uber app by selecting “Bicycle” in the platform. This option is an alternative to move faster between city traffic.
Users can unlock the bicycle lock with a code that will be offered from the application and park them later in the service area.
Mexico is the first city in Latin America where Uber presents this service that is already available in various parts of the United States and Europe.
Jump service areas
Uber bicycles are available in polygons in the city such as Polanco, Juárez, Roma-Condesa, Cuauhtémoc. The cost of the service is 10 pesos per unlock and 3 pesos per minute of bicycle use.
In addition to bicycles, Jump also offers scooter service. However, the current regulations of Mexico City prevent them from providing this service.
There will be almost 5K bicycles in the city
On August 2, 2019, the Secretary of Mobility of Mexico City (SEMOVI) began the process to offer annual permits for operation of bicycles without anchorage.
A total of 4,800 bicycles without anchorage will be available in the city, with the presence of Motum, Jump, and Dezba.
The promotion of this sustainable transport is part of the Strategic Mobility Plan 2019.
Semovi has worked collaboratively with the anchorless bicycle companies to carry out this regulation, which can provide them with certainty to make their investments in the capital.
July 25, 2019. Thursday. Afternoon. The largest fixed broadband Internet service provider in Mexico, Telmex, presented a massive failure. Users of his partner company, Telcel, also reported problems in the service.
The failure only affected these two companies, but these two are the largest telecommunications companies in Mexico. Telmex has 9.7 million fixed broadband users, while Telcel operates 75.6 million mobile lines in Mexico. Both companies are subsidiaries of América Móvil, the corporate of Mexican tycoon Carlos Slim.
The company reported to the media that the burning of grasslands in the Mexican states of Sinaloa and San Luis Potosí caused the massive failure, damaging the fiber optic cables. They added that the corresponding investigations would be done to find those responsible for the damage to telecommunications networks.
The total number of users who went offline has not been disclosed. The fault affected several states of the Mexican Republic, including Mexico City, State of Mexico, Nuevo León, Puebla and Jalisco, entities where more than 50% of the population of the country lives. Those who could complain about the failures of the social media service received an automated response. The company’s service lines were not available.
Are damage to telecommunications cables common?
Damage to telecommunications cables is quite common worldwide. Stephan Beckert of TeleGeography Research estimated in 2008 that on average, a submarine cable was damaged once every five days. The decentralized nature of the network intends that users do not notice these failures. As soon as a connection is interrupted, the system automatically searches for an alternative route for the link. Currently, there are more than 56 ships worldwide that are dedicated to repairing submarine cables damaged by stones or anchors. Most users do not notice when these cables are damaged because they are automatically redirected. However, sometimes the damage causes significant failures.
In Mexico, people are used to technology doesn’t work as it should. Mexicans often joke with the phrase “the system fell,” commonly said in self-service establishments when they could not process a card payment for any connection failure. The refrains origins are even older. In 1988, the Secretary of Government Manuel Bartlett (now director of the Federal Electricity Commission) appeared at the media to report that the system that was monitoring the presidential vote count “fell.” When this fail happened, the count showed the presidential candidate of the opposition party in the first place. However, the connection cuts are not exclusive to Mexico.
A massive failure of Internet services worldwide is a good argument for an apocalyptic science fiction story, but also an unlikely scenario. The decentralized feature of the telecommunications network that makes up the Internet allows devices to look for alternative ways to communicate when a connection fails. Despite this, massive Internet outages are always happening worldwide, some caused by authoritarian regimes, others for hilarious reasons.
Can an Internet blackout be provoked by sabotage?
From January 23 to February 4, 2008, the Internet service of the Middle East and India showed disruptions and slowdowns due to damage to the submarine communications cables of the Mediterranean Sea and the Middle East. The experts considered that it was an accident, although they never discovered the causes. This misinformation provoked some people to raise their eyebrows and begin to elucidate conspiracy theories about the incident, from suspected terrorist attacks to US military strategies to attack Iran.
An Internet blackout hit Syria in November 2012 while intense clashes were taking place between groups of Islamist rebels and the Syrian government of Bashar al-Assad. The antagonist groups blame each other for the incident. Two years later, Edward Snowden commented that the National Security Association was responsible for the massive drop in the service. According to Snowden, the NSA tried unsuccessfully to infiltrate the hardware of Syria’s largest service provider to learn about the population’s Internet usage patterns.
The fear of conscious sabotage against submarine cables is partly based. In December 2017, NATO expressed concern about a more significant presence of Russian submarines in the areas where these cables are placed. However, accidents also happen frequently.
Big fail in the Internet service
In 2011, a 75-year-old Georgian woman left three million inhabitants of Armenia without the Internet, in addition to affecting some users in Georgia and Azerbaijan after damaging the cable responsible for 90% of the country’s Internet connection. The woman damaged the cable while digging to find copper.
In Mexico, the Telmex service presented connection problems in 2018 that harmed the inhabitants of the Yucatan Peninsula, in addition to Puebla, Tabasco, and Veracruz. On that occasion, the company only declared that there were “massive failures” in its service, without specifying the causes. Some experts suggested that these problems could be due to the growth of infrastructure in the country, such as the construction of roads that damage the company’s fiber-optic.
The decentralized feature of the Internet protects itself from most eventualities, but it is not invulnerable. A small failure can cause a big connection problem, especially in regions with poorly developed infrastructure.
Governments can shut down the Internet
Sometimes, governments themselves are responsible for massive failures. The Access Now organization reported that the cuts to the Internet service increased in number, from 75 in 2016 to 196 in 2018, the majority caused by authoritarian regimes.
These cases are more common in countries where there are only one or two internet service providers (ISPs) or when the government is the primary service provider. In this way, it is easier for governments to control the sites that are visited by citizens or even prevent full access to the Internet. However, these censorship measures have their weaknesses, as users can still access the banned pages with a VPN service.
There are multiple documented cases in more than 30 nations around the world in which the government cut or pressured to cut the Internet service. In Latin America, Venezuela is the most cited case. Opponents of Nicolás Maduro accuse the government of knocking down the Internet every time protests are organized against him.
In the early days of 2019, the Internet service failed before announcing the results of the elections and arresting members of the opposition parties in the Democratic Republic of the Congo.
Some years ago massive cyberattacks were only part of sci-fi plots, but recently they became a real threat. The DDoS attacks boomed in 2016, causing the most prominent Internet service failure in history on October 21.
Responsible for these massive attacks was Mirai malware, developed by students Paras Jha, Josiah White, and Dalton Norman. The initial intention of these students was to attack Minecraft servers to boost their business of DDoS mitigation tools. This team discovered a way to take advantage of the low-security levels of most devices connected to the Internet of Things and shared it online.
The code of Jha, White and Norman exceeded the expectations of its creators when it was used to attack Dyn, a company of Domain Name Servers (DNS), causing problems in the Internet connection of North America and Europe. Wired described the attack as “the first thermonuclear bomb in the DDoS world.”
These attacks revealed how vulnerable the network could become without adequate security measures.
The economic cost of Internet blackouts
Massive failures in Internet services have raised concerns about the economic costs of Internet outages, regardless of whether they were caused by infrastructure failures, by the decision of the authorities or by cyberattacks.
The Organization for Economic Cooperation and Development (OECD) estimated that Egypt lost $ 90M when the government prevented access to the Internet for five days as a measure to avoid the rapid spread of Arab Spring protests. According to the agency’s calculations, if this measure had been extended for a year, the Gross Domestic Product of Egypt would have fallen between 1% and 4%.
The economic impact of the Internet has led the United Nations to issue a resolution to support “the promotion, protection, and enjoyment of human rights on the Internet.” The UNO condemned measures that disrupt Internet access.
The Brookings Institute estimated that the Internet shutdowns cost between July 2015 and June 2016 $ 2.4 billion worldwide. The report called The economic impact of disruptions to Internet connectivity calculated that one-day interruptions in the Internet connection cost countries with high connectivity 1.9% of their daily GDP. For countries with medium connectivity, service interruption costs 1% of their daily GDP.
DDoS attacks interfere with the online operations of companies, resulting in lost sales during the interruption period, in addition to customers. If the attack gains visibility, it can even damage the image of the brand and reduce its future revenue, according to a report published on February 2018 by The Council of Economic Advisers.
On average, a DDoS attack costs businesses $ 2.5M, according to a Neustar report. In the case of Dyn, 8 K domains stopped using their service after the attacks, meaning a 24% loss, according to BitSight data.
These figures highlight the importance for both companies and governments of protecting the infrastructure that allows the Internet to function properly and without interruptions: ensure that there are enough fiber optic cables deployed to mitigate the eventualities that may interrupt the connection of large areas, ensure that Internet service providers are independent companies from governments and take the necessary security measures to prevent infection of the devices and mitigate the effects of DDoS attacks.
More than 600 companies dedicated to software development have chosen Guadalajara as its headquarters. A significant number of these companies are focused on the development of video games and animation, two industries with accelerated growth and in which Mexico has stood out.
Until a few years ago, there was no educational offer in Mexico focused on videogames or animation, especially in Jalisco. Many of the companies had to invest in the training of personnel that later left the company to receive better job offers abroad. At present, this situation has changed. Several schools consider these industries within their curriculum.
Guadalajara’s schools usually have agreements with animation studios in the city. Amerike University, for example, has 18 deals with animation studios and 14 with video game developers and belongs to the Jalisco Association of Creative Industries.
The Jalisco Association of Creative Industries feeds this expanding ecosystem. This association, presented at the Guadalajara International Film Festival in 2016, aims to “turn creative industries into one of the strategic industrial, economic and cultural sectors of the country to generate wealth.”
The US Presidente Donald Trump repeats a well-known cantata since he took office: Tariffs will rise. However, this threat comes at a time when no one was waiting for it.
In recent months Trump had concentrated his efforts against China, and relations with Mexico had a better tone thanks to the USMCA, about to be approved.
Trump’s stance is difficult to understand. Imposing tariffs on the countries that sell you is like asking the owner of a supermarket to pay you for the right to buy things. Maybe he’ll do, but it will make you buy your products more expensive.
Trump’s stance also has an electoral tuff. All attempts to build a wall on the border between Mexico and the United States have been blocked by both the Congress and the Supreme Court of the United States. Trump resumes his electoral rhetoric and wants to show that his threats work.
Markets worried about tariffs against Mexico.
The increase in tariffs hits international trade harder because of the surprise of the measure. Although at the beginning of his presidential period, Trump found a victim in Mexico to retaliate his anger, the ratification of the USMCA promised to change this situation.
“The threat of tariffs on Mexico was completely off the market’s radar,” said Cliff Hodge, director of investments at Cornerstone Wealth Group. “No one has been talking about tariffs on Mexico.”
The threat, which would not enter into force until June 10, has already had its effects on the market. Dow Jones fell 1.4% on Friday, along with the S & P and Nasdaq.
The unforeseen tariffs shake the technological industry, who see Mexico as an alternative to China. The Verge commented that GoPro had planned to move its production to Mexico due to the economic war between China and the United States.
The primary industry affected was the automotive industry. The production of cars depends a lot on free trade between Mexico and the United States. The United States has imported $59B in parts from Mexico, while last year Mexico received 2.7 million finished cars and trucks with an approximate value of $52B, according to data from the US Department of Commerce.
This year, sales in the automotive sector have fallen, so they will probably prefer to cushion tariffs instead of increasing prices, with a reduction in the profit margin.
The consequences in Mexico are also felt. On Friday, the Mexican peso fell sharply against the dollar (3.5%). The president of Mexico sent a letter to his counterpart, where he asked to avoid confrontation.
“Tariffs are not an appropriate tool to address serious immigration challenges, The most effective way to address these concerns is for the administration and Congress to pass a permanent solution to fix the United States’ broken and outdated immigration system.”, commented Jason Oxman, CEO and president of the Information Technology Industry Council (ITI).
Analysts from the United States considered that Mexico could respond with an increase in tariffs. However, this seems not to be the case.
In the port of Veracruz, López Obrador announced that he would take measures to control the migratory flow, concerning human rights, to avoid an economic war with the United States.
This statement could prevent the conflict from escalating, but it is also a bad sign. It would make us think that threats are a useful diplomatic tool to solve problems that are incumbent in both countries.
Mexico regains its leadership in Latin America in the Fintech sector with 394 startups, according to the latest report by Fintech Radar Mexico. With this number, the country exceeds Brazil, which has 380 startups, according to the Fintech report in Latin America 2018: growth and consolidation presented in November by the Inter-American Development Bank and Finnovista.
In 2018, the enactment of the Fintech Law in March and the publication of secondary laws in September created uncertainty in the sector. Despite this situation, the number of fintech in the country increased by 18% since July 2018, when Finnovista made the last measurement. Since then, 98 new startups were created, while the mortality rate was 11.3%. Finnovista surveyed a third of the startups that exist in Mexico for the Fintech Radar report.
Fintech Radar Mexico 2019
Of the companies that make up the sector, the sub-strata of Loans, and Payments and Remittances continue to be the most popular in Mexico and, as a whole, make up more than 40% of the country’s fintechs. Most fintech branches in Mexico grew, except for Crowdfunding and Patrimonial Management, which fell -3 and -20% respectively. Digital banks had the highest growth (200%), an indicator of the acceptance of startups such as Albo or Hey.
The fintech sector is made up of young companies. 70% of the fintechs were founded in the last five years. More than half of the startups are in Mexico City: Monterrey and Guadalajara are the other two cities with most companies. Only one in five Mexican startups operate outside of Mexico, with Latin America being their preferred destination, followed by the United States.
Banking in Mexico is on the rise, and financial products still have plenty of space to expand. The banking population grew by 37% in the last six years and now 68% of the population has some financial product. 38% of Fintechs seek to increase financial inclusion.
The Fintech law in Mexico gives greater legal certainty to the sector. However, 53% of the surveyed companies consider that it will be a barrier to the incorporation of new players, while 46% think the costs to comply with the law will cause inefficiencies.
In addition to the proliferation of new competitors, Mexico is one of the most attractive markets for companies in the region that are becoming internationalized in countries such as Chile. The country has also seen the entry of startups in the region such as Nubank. Foreign competitors only concern 5% of Mexican startups.
The Hot Sale 2019 begins in Mexico, an event that seeks to promote the digital ecosystem in this country. From May 27 to 31, e-Commerce will present their best promotions so that more people become familiar with online purchases.
Since 2013, online shoppers or e-Shoppers have grown at a rate of 7.22% per year in Mexico. The e-Shoppers represent 31% of the population with Internet connection in the country, where penetration to the Internet already reached 71% of Mexicans.
Thanks to the improvements in connectivity in the country, the increase in financial inclusion and digital literacy, e-commerce in Mexico will continue to grow. This trend has been observed by multichannel stores, whose online sales have increased by 25% more than other channels.
Hot Sale increases sales, awareness, and traffic
According to data from the Results Survey HS18-Nielsen, in 2018, the Hot Sale offers produced: $ 449M in sales, a growth of 75% compared to 2017; 11.6M units sold of products or services, 93% more than HS 2017; 6.1 million orders online, 52% more than in 2017. Of these sales, 2.1M were made by new buyers. The Google Consumer Survey HS18 survey indicates that for 53% of buyers, it was the first time they bought during the Hot Sale. Of these, 13% was the first time they purchased online.
In addition to benefiting from increased sales during the Hot Sale, e-retailers gain awareness and traffic on their sites. 53% of Mexicans already know the event, of which 70% are in the age group of 18 to 35 years, according to Google Consumer Survey HS18. The sponsors of the Hot Sale managed to increase their traffic 2.2 times more than in 2012, with a total of 160M visits to their sites, according to HS18 – Google Analytics.
Hot Sale 2019: forecasts
For this year, data from MercadoLibre estimated that consumers would spend an average of four thousand five hundred pesos, being the category of clothes and accessories the best sold, followed by electronics and more users will buy online from their smartphone.
Also, the trends of past years pointed to the ratio of male and female buyers would be matched in 2019. In 2017 65% of the buyers were men, while last year the proportion was reduced to 55% men compared to 45% women.
This year, e-retailers expects $580M in sales.
The way of buying and selling has changed more in the last two years than in the two previous decades.
Pierre-Claude Blaise, CEO of the Mexican Association of Online Sales
The Brazilian fintech Nubank arrived in Mexico, according to Business media. Nu will be the name of the company in the country, which will seek to compete with the traditional banking system.
Nubank began operations in Brazil six years ago as an alternative to traditional banks. In that time, Nubank went from having 12 clients to 8.5M users. Since then, this Brazilian fintech has grown with the founding of different venture capital firms such as Sequoia Capital, Founders Fund, Kaszek Ventures, Tiger Global Management, Goldman Sachs, until becoming the third Brazilian startup to achieve the status of ” unicorn “(after PagSeguro and 99) in 2018.
In this year, the company announced the start of operations in Argentina and now in Mexico. These announcements talk about a process of international expansion that the company is experiencing, mainly towards Latin American markets where the level of banking penetration is deficient, and there is a lack of confidence in traditional financial services.
David Vélez, CEO of Nubank, commented on the current expansion process that the company is undergoing: “We finally took the step of taking our revolution to new markets, and we see a great opportunity to do the same in Mexico.”
Velez said that before arriving in the country, the company studied the Mexican financial system for several years, as well as consumer complaints about traditional banking.
Nubank is focus on customers
As a bank, Nubank is a digital native and seeks to distinguish itself from traditional banking by focusing on customers. On this subject, Vélez said «We created a company focused a 100% on the client and a product that solves their problems. When you see the traditional banking industry in all countries are oligopolies that 4 or 5 banks own 70-80% of the market, then there has not been much competition. You want a credit card or a bank account, and they are doing you a favor, and it must be the opposite. “
In recent years, traditional banks have introduced digital products such as mobile banking or new electronic payment options. However, Vélez does not consider that they represent a problem for the growth of the company. «Banks now see the success we are having, and logically they are in a stage of reinvention of their business. Some of them still think that the challenge is to create a better website or a better app, which often seems like a Blockbuster wanting to compete with Netflix, or taxi drivers creating an app to compete against Uber. It’s not just technology; it’s more a cultural challenge ».
Both Mexico and Brazil are fintech leaders in Latin America, occupying the second and first place in the region of ventures related to digital financial services, according to data from Finnovista.
Cinco de Mayo has become a holiday to celebrate the Mexican culture in the United States, driven by the importer in Texas of Corona and Grupo Modelo beers. A successful campaign: more beer is drunk on this date than on St. Patrick’s Day or the Superbowl.
In Mexico, Cinco de Mayo is a celebration that has taken a back seat, although it commemorates one of the few battles won by the Mexican army against an invading army, having almost all the factors against it.
Like Mexican soldiers in 1862, Mexican startups have also had to undertake in an adverse environment. Mexican SMEs have one of the highest failure rates in the world, and in recent years Mexico has fallen into the ranking of the Doing Business report, which measures the ease of doing business by country.
Despite the numbers against, these five Mexican startups have managed to innovate in recent years, raise venture capital and expand to other countries.
Clip is a Mexican startup founded in 2013 by Adolfo Babatz and Vilash Poovala. This company seeks to solve the problem that many businesses have to accept card payments when converting any cell phone into a payment terminal. Since its foundation, the number of clients has grown exponentially, and last year they presented a new product. The company has received capital from Angel Ventures, Dalus Capital and 500 Startups. This year Clip will seek additional founding.
Kueski is a micro-lending platform, founded in 2013 by Adalberto Flores and Leonardo de la Cerda. The entrepreneurs saw an area of opportunity in Mexico when they observed that very few credits were granted in the country. People apply online, and money is deposited in less than two hours.
Tumbiko is an e-commerce of Mexican artisan jewelry, founded by Victor and Aldo Uribe, both of Taxco. When seeing that many artisans were leaving their work, they decided to connect them with designers to maintain the tradition of the jewelry that has characterized this town of Guerrero.
Luuna is a mattress company that has taken advantage of e-commerce to deliver mattresses without springs at an affordable price. The cushions are packed in high vacuum and shipped to any part of Mexico from the factory in Monterrey.
Kichinik is an e-commerce platform that offers Mexican entrepreneurs everything they need to start their online business. Kichinik was founded by Claudia de Heredia and was chosen in 2015 by Google on Demo Day.
The Digital Creative City (CCD) began as an ambitious project of President Felipe Calderón and Jalisco Governor Emilio González Márquez. They announced it in January 2012, at the end of the six-year term, and it was retaken by the successive administrations, now with another party in power.
The CCD came across reality from its inception. The chosen area is a point of the city where crime, poverty, prostitution, and sale of drugs are common. In part, the project seeks to transform the area by attracting technology innovation companies.
To give a new impetus to the Digital Creative City, the government of Enrique Alfaro has announced its launch in the Jalisco Talent Land. The current government plans to correct the failures of the current CCD, present at the beginning of its development.
“We have redefined the recent creation of the Agency of Creative and Digital Industries of Jalisco. We are ready to detonate the activities and investment services in this strategic sector of the economy of the future and thus trigger the rebirth of this emblematic center, “said the governor of Jalisco on Tuesday.
History of the Digital Creative City
In its initial conception, the CCD sought to be an innovation hub where the technology industry and software development of Jalisco would be under one roof, taking advantage of the fact that there is already a presence of tech industries in the state. The promise was to turn it into a hotbed of Mexican talent and a long-term incubator. Likewise, MIT sponsored the project to turn Guadalajara into one of the most innovative cities on the planet.
In 2015, the project received funding of $ 500K from the Inter-American Development Bank (IDB) to promote the benefits and development opportunities of the companies that would be installed in this center.
Alejandro Guzmán Larralde, coordinator of the economic cabinet of Jalisco, told a Mexican journal that “The original concept [of the CCD] was born well, along the way it was thought that Having only two buildings called Ciudad Creativa was going to attract many players, but the reality was not like that “.
Change of administration, change of course
With the transition of powers in Jalisco, the Digital Creative City began a process of reflection to correct errors in its development. Just in November of last year two of the three buildings that will make up the CCD around the Parque Morelos were completed. Due to the delays, the companies that planned to settle in this innovation center to date have not specified their arrival.
During 2019, the CCD buildings will be upgraded to achieve 60% occupancy of the spaces. Guzmán believes that by the second half of 2020, Ciudad Creativa Digital will be operating at 100 percent.
“We are working in stages. First, we are interested in holding the area of innovation and technological development represented,” said Guzmán Larralde. For a second stage, other creative industries such as fashion, jewelry and gastronomy will be integrated.
Jalisco Talent Network, the organization behind the innovation and entrepreneurship fair Talent Land, will be the first to be formally installed in this new stage of CCD.
The Jalisco government estimates an investment of 25 million pesos to complete the project.
When you go on vacation, try to be careful when choosing the place where you will stay and evaluate everything, not just the price. Check the comments of other guests, the ratings of the site, the activities to perform. However, if you have pets, one detail remains: “with whom do I leave the dog?”
DogHero is a platform where you can check places to leave your dog with the same care you choose the place where you will stay. You could say it’s an Airbnb for dogs.
On their web platform, you can search for hosts that can receive your dog. The page includes details of the hosts, such as photos of the residence, dogs that were previously there and customer evaluations.
After choosing a host, you establish contact with him from the app’s chat or on the same DogHero website. The reservation and payment are also from the same application. When you host your pet, you bring their food and toys with them.
In the end, you stay calm. Your pet’s host will send you photos and videos, so you can be sure that it enjoys the holidays as well as you.
DogHero also includes a veterinary guarantee of up to 15,000 pesos. The host receives 75% of the rate. DogHero also offers online training in the “School of Heroes.”
A market bigger than babies
The Brazilians Eduardo Baer and Fernando Gadotti are responsible for DogHero creation. The entrepreneurs met in an MBA from Standford. These two partners, lovers of dogs, founded the company in 2014.
In Brazil, DogHero has 15K hosts, 250 walkers and has a presence in 650 cities. In Argentina, 1K houses host pets in 100 cities. Moreover, in Mexico, where it arrived in 2018, it already has 250 homes in 20 cities, but its goal is to reach 1,5K hosts by the end of this year.
The pet market is more significant than you can imagine. Only in Mexico, has already exceeded the baby market, which speaks of a crucial generational change in consumer habits. Just in food, was invoiced $2 thousand 78 million, 112% more than the $980 million recorded in processed foods for babies (baby food and milk formulas) in the same period.
Eduardo Baer commented on this for Entrepreneur, “People can underestimate this market, but we have seen how it has evolved. Today there are already 100 million dogs in Latin America, which are part of their families and have an expectation of the higher quality of life and services.”
More investment for pets
Rover and IGNIA Partners have bet on the growth of DogHero for the coming years. This startup got an investment of 7 million dollars recently. Álvaro Rodríguez Arregui, co-founder and partner of IGNIA Partners, pointed out that “DogHero is one of the great protagonists in the ecosystem of the collaborative economy in Latam, its work team and effective growth strategies are two of its great attributes.”
For his part, Baer said that “with this investment, we want, de facto, to consolidate as the leading Latin American player not only in Brazil, Argentina, and Mexico but in more countries in the region, because by 2020 we will reach Chile, Peru, Colombia, and Uruguay. “
The money from the investment will go to the areas of Technology and product development (30%), Marketing (30%), Human resources (20%). Also, they will begin with the DogWalk service in Mexico and Argentina during 2019 (20%). The purpose is to monopolize the market of more than 100 million dogs in Latin America.
“We want to provide more solutions for parents and moms of dogs, while we work on improving the current experience. That is what drives us, and this new investment helps us to do it faster, “said Baer.
The founders of DogHero expect double growth in Brazil, five times more in Argentina and seven times more in Mexico than in the same periods of 2018. Ricardo Plaschinski will be the Country Manager of the startup in Mexico to achieve this goal.
“Mexico has proven to be a key country for DogHero because, in the 11 months of operation, we have done twice as many services as they did in Brazil in that period,” he said.
The local team in Mexico will be reinforced to attract new talent and expand in such a way that they have a host for each municipality of the country.
In addition to this recent investment, DogHero has received more than $12 million from investors such as Kaszek Ventures (Argentina) and Monashees (Brazil), as well as Global Founders Capital (Germany).