Read this Wednesday’s edition of the FolhaMercado newsletter (19) – 07/19/2023 – Market

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Startup raises BRL 235 million to reforest the Amazon

The startup Mombak, which operates with reforestation in the Amazon, announced this Tuesday that it will receive $49 million (R$ 235 million) from the French insurance company Axa to finance the reforestation of more than 10,000 hectares of degraded pastures.

• The investment was made by the insurance company’s investment manager, which will also have a minority stake in the startup’s capital.

To Mombak: Founded in 2021 by Gabriel Silva, former CFO of Nubank, and Peter Fernandez, former CEO of 99, the startup uses its reforestation projects to generate carbon credits, which are sold on the voluntary market to companies interested in offsetting their emissions. .

• It buys degraded land from ranchers and ranchers or partners with them to replant native species in the Amazon.

• This model helps Mombak protect itself from some of the risks that non-governmental organizations face in reforesting the Amazon, Fernandez told Reuters.

In numbers: the reforestation of 10 thousand hectares of degraded pastures should generate up to 6 million of carbon credits, according to the startup.

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Enjoei buys Elo7, of handcrafted products

Enjoei, a clothing marketplace, announced this Wednesday the purchase of the Elo7 platform, which brings together sellers of handmade items.

• Enjoei’s shares closed at a high of 11.7% with the acquisition, whose values ​​were not disclosed.

• The two companies will continue to operate independently with the brands, according to the announcement of the transaction.

Who is who:

Enjoei: created in 2009 as a used clothing sales blog, it reached the Bolsa at the end of 2020, at the height of ecommerce platforms in the pandemic. At the time, it was valued at R$ 2 billion.

Elo7: With more than 50,000 active copyright product sellers, the platform had a GMV (gross merchandise value) of approximately R$500 million in 2022.

In a statement, Enjoei said that the transition will generate more revenue, cost optimization and expense dilution, in addition to “resulting in a significantly larger combined inventory, leaving the ecosystem stronger and more interesting for buyers”.

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Released for the Cup

It will not be just federal servants who will have an optional point at work during the time of the Brazilian team’s matches in the Women’s World Cup.

Companies from different sectors will also take time off during the period, with the aim of boosting diversity and valuing competition, following the model adopted in the men’s tournament.

The reality of most Brazilians, however, must be different. This is what the survey by the technology company Zoox Smart Data indicates, carried out with 31,615 people in places such as airports, hotels and subways in cities in the five regions of the country:

• 70% of respondents said that the company they work for will not release teams during women’s team games;

• 12% will only be released during departure times.

How will it work: in the federal government, servers may be absent during the match and up to two hours after its end. Hours not worked must be compensated by the end of the year.

In the private sector, policies vary according to each company. Some are going to set up structures for employees to watch the games, others are going to release the team from work in the morning – which should concentrate the hours of this Cup, based in Australia and New Zealand.

On the calendar: in the first phase, which begins this month, the selection led by Pia Sundhage will play at 8 am on the 24th (Monday, against Panama), at 7 am on the 29th (Saturday, against France) and at 7 am on the 2nd of August (Wednesday, against Jamaica).

• If they pass the stage, the selection will play the round of 16 on the 8th (Tuesday).

• Passing first in his group, he enters the field at 8 am. If you reach the classification as second, you play at 5am.

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Amazon and Apple fined in Spain

Apple and Amazon were fined $194 million (R$ 1.05 billion) jointly by the Spanish antitrust body for “restricting competition” in the distribution of apple products in the Spanish branch of the retailer.

• It was 143.6 million euros (R$ 779.1 million) for Apple, while Amazon will have to pay 50.5 million euros (R$ 273.9 million).

The accusation: the Spanish authorities accuse the two companies of restricting access to Amazon to some resellers of products authorized by Apple itself.

They also stated that the agreements “limited the possibility for brands competing with Apple to acquire advertising space on Amazon’s website in Spain to advertise their products”.

Apple said to the AFP agency that intends to appeal the decision and that the measures had the objective of “protecting users from the risks related to the safety and quality of counterfeit products”.

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