Zap buys PenseImoveis
06 Jan 2015
Zap, a leading real estate platform in Brazil, acquired Brazil’s PenseImoveis, the company confirmed Tuesday. The deal was approved by the nation’s anti-trust agency (Cade).
According to the company, the deal is part of a plan to grow in Brazil. “The company has been doing this with the opening of new offices (and) the sale of listings in many Brazilian cities,” a company spokesman told the AIM Group.
With the move, Zap could increase its client’s database and strengthen its presence in local markets, such as in South Brazil, where competitors like Navent have a significant presence. “PenseImoveis is a way to accelerate the company’s growth. Once it’s a local leader and aggregates a client’s basis and new advertisers to Zap’s [platform],” the spokesman it said.
Zap has adopted an ambitious plan to grow in the competitive Brazilian real estate market. In 2014, it launched new offices in key Brazilian capitals, including Curitiba, Recife and Salvador. Another office was also opened in Sorocaba, a major country town in the state of Sao Paulo. According to Zap, other offices will open in 2015.
Eduardo Schaeffer, Zap’s CEO, said the expansion aims to “approximate the portal to local real estate. With this expansion, the number of users we have can increase even more, consolidating Zap as national reference platform,” he said.
Zap claims to be Brazil’s largest real estate platform. It competes with VivaReal and Navent’s ImovelWeb.