In its continued bid to transform into a leading media-tech company, Globo, the largest media company in Latin America, has launched the Globo Partner Program aimed at helping U.S. companies looking to grow their operations in the Latin American market.
“Globo is a key entry point into Latin America, and we represent over 100 million daily users in the U.S. startup community, helping founders and VCs [venture capital firms] understand the size of the opportunity,” said Carlos Moreira Jr., director, Global Media Ecosystem & Partnerships at Globo, and head of the Globo Partner Program.
Based in Palo Alto, California, the program has been in stealth mode for over a year and is already working with 90 partners, including such burgeoning companies as Palantir, Firework, LiveRamp, Snowflake and Clash, as well as venture capital firms Samsung VC, Disney Accelerator, Plug and Play, Mindset Ventures and Stanford Reaction Global.
“Our goal is to establish long-term partnerships that could encompass revenue sharing, co-developments, joint ventures, or direct investments with at least eight partners out of over 40 new experiments,” said Moreira who added that the second semester of 2020 was dedicated to testing their maximum capacity with a number of companies.
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“The Globo Partner Program has been a fantastic program, fomenting collaboration and accelerating our growth. Combining Globo’s technology and huge reach with the nimble approach of a startup has enabled us to iterate quickly and deliver impressive results,” said Jerry Luk, co-founder, president and COO at Firework, a short-video platform for publishers and businesses on the open web.
“In Latin America, our user reach has increased over 40 times and our traffic has increased over 100 times since Firework partnered with Globo. Thanks to that, Firework has become the largest decentralized short-video platform reaching over 250 million people per month. That’s huge for our business and it really shows the breadth of the Globo Partner Program’s reach in LatAm,” Luk continued.
Latin America, and Brazil in particular, is a fast-growing VC ecosystem and offers a valuable expansion opportunity for U.S. startups. According to recent reports, Brazilian consumers are early adopters, possess a high level of digital utilization, with 70% hooked up to the internet and spending over nine hours a day online – the highest rate in the world.
“Globo, as one of the most influential companies in LatAm, is one of the largest steps for growth in LatAm a startup can take. Through the Globo Partner Program, we are able to actively help our portfolio companies expand to this huge, but challenging region – opening relevant doors and helping them scale,” said Daniel Ibri, managing partner at Mindset Ventures.
Mindset works with the Globo Partner Program by referring startups that are interested in exploring expansion opportunities in the region. It also relies on the program to receive feedback on potential portfolio companies in the markets where Globo has established a firm foothold.
“Latin America already provides an ideal environment for local and global companies to develop and test new digital products and solutions,” noted Moreira. “We want to make sure our ambitions in Silicon Valley match the size of the opportunity in LatAm,” he added.