In search of innovation, large Brazilian companies set record in startup acquisitions

"The pandemic accelerated the transformation of companies faced with a sharp change in consumer behavior. They realized they needed new channels to serve these customers," says Distrito's co-founder Gustavo Gierun.

RIO DE JANEIRO, BRAZIL - The speed of digital transformations, spurred by the Covid-19 pandemic, has produced a culture of urgency within companies in search of innovation. In order not to fall behind and not lose ground to the competition, many of them, such as Magazine Luiza, Via, B2W and Alpargatas, have been shopping around looking for solutions to everyday problems.

The preference has been for startups, new companies with more agility in product development and qualified labor.

In the first 4 months of this year alone, the number of startup acquisitions grew 120% - a record for the segment. There . . .

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