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Foreign Funds Buy 40% Stake in Brazil-based ViajaNet

17 November 2010

(iG) November 17, 2010 – Created just a year ago, the online travel agency ViajaNet received investment from Spain-based IG Expansion and US-based Redpoint Ventures.  The investments amounted to a 40% stake in the company.

Financial details of the deal were not disclosed.

With the capital, the company plans to quadruple the site’s revenue in 2011 to an amount closer to R$220M (approximately US$128M). The site currently attracts 2M visitors per month, and revenues for 2010 are predicted to reach R$55M (approximately US$32M).

To read the entire article in Portuguese, click here.