Prosus is in talks to increase its stake in iFood, Latin America’s biggest food delivery start-up, amid a wave of consolidation in the industry, people with knowledge of the matter said.
When Naspers’s Latin America chief cold-called Alec Oxenford in 2010, he got straight to the point: he wanted to buy a majority stake of the Argentinian entrepreneur’s online classifieds business.
In what is being billed as part of the largest technology venture funding ever in Latin America, Naspers and Innova Capital have agreed to invest $400-million food delivery platform iFood.