Brazil’s online furniture platform, Oppa, completes exit

Brazilian affordable furniture platform, Oppa, was acquired by Meu Móvel de Madeira (MMM), a larger, wooden furniture e-commerce site, for an undisclosed sum. This move constitutes Oppa’s exit from investors monashees+, Valar Ventures, Thrive Capital, and Kaszek Ventures.

Oppa gained fame in 2012 when it raised a US$13M round led by Valar Ventures, a firm backed by billionaire Peter Thiel. Oppa marked Thiel’s first investment in Latin America, following a pattern of Silicon Valley executives investing in Latin American entrepreneurs.

Meu Móvel de Madeira is based in the city of Rio Negrinho and has been operating since 2006. According to both parties, the businesses will continue to operate independently after the acquisition.

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