News | Grow, a Micro Mobility Giant in Latam, Sold to Fund

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News Summary Grow, which was born in 2019 after a merger between Brazil’s Yellow, which provides share services for bicycles and electric scooters, and Grin, Mexico, which manufactures electric scooters, announced the sale of its business to Mountain Nazca, a South American investment fund, on March 11. Nazca is also the largest shareholder in companies such as Peixe Urbano in Brazil and Grupon. According to grow’s statement, the company will continue to operate in three Brazilian cities (Curitiba, Rio de Janeiro and Sao Paulo) and Argentina, Chile, Colombia, Mexico and Peru. Roberto Álvarez Cadavieco, Vice President of Mobility at Grow, will be the global CEO of the Grow Group. Just … Conteúdo

News | Grow, the world’s 3rd largest micro mobility player, restructures Brazilian business

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News summary Grow, the world’s third largest micro mobility company, reviewed its Brazilian operations and announced that it will suspend services in Brazil excepting three major cities. The company has stated that the purpose of the restructuring is “to continue to provide services in a stable, efficient and secure manner.” Restructuring Grow’s business while the sharing electric scooter business is growing in the Latin American and Brazilian markets made us surprised. In this blog, we would like to discuss what this implicates.   Four essences to note in this news 1) A major competitor, Lime, also announced the restructure of its Brazilian business last month. 2) The sharing electric scooter … Conteúdo