The specific terms of the deal and the investment value were not disclosed, but according to media reports, Globo would give QuintoAndar media exposure in exchange for an undisclosed equity.
Luis Lora, managing partner at Globo Ventures, said Globo group reaches about 100 million Brazilians. Globo Ventures is also an investor in Enjoei, a Brazilian fashion-focused marketplace for new and used items.
The deal with Globo would give QuintoAndar nationwide exposure, as QuintoAndar has already sponsored Big Borther Brasil, a major reality show.
Globo was a majority stakeholder at Zap Imoveis before the specialist site merged with its biggest competitor VivaReal. More recently, OLX-Brazil acquired Grupo Zap, the resulting entity of the Zap Imoveis and VivaReal merger.
The Brazilian real estate market has been quite competitive and has consolidated in recent years with massive investments from venture capital (VC) funds into players like Loft and acquisitions. Both QuintoAndar and Loft, an I-Buying-focused company, are valued together at about $8 billion U.S.