The absurd sale of iFood to avenge Magazine Luiza

Jaw-dropping: find out everything about the absurd sale of iFood to avenge Magazine Luiza

Ifood, an important delivery and market app, had the brand’s shares transferred for almost R$10 billion, in a billion-dollar transition that moved the market and vindicated Magazine Luiza.

The Dutch Prosus, controller of the Brazilian Movile, signed to acquire 33.3% of the shares of the food commerce platform, belonging to the minority shareholder Just Eat Holding. As a result, the company, which had 67% of the capital, now has 100%.

“Movile invested in iFood almost a decade ago, when the founder, Fabricio Bloisi, was CEO. Since then, iFood has established itself as a technology leader in Brazil and is one of the most innovative delivery companies in the world”, said executive Patrick Hruby.

According to G1, the application serves more than 330 thousand establishments and has delivered another 200 thousand, with data from 2022. “We are excited to fully support iFood, as the company continues to create a significant social impact in Brazil”, he confirmed.

On the other hand, just 2 years before the transition, Magazine Luiza had announced the purchase of the food delivery startup AiQFome, expanding services in the country. The platform competes directly with iFood, although it has not yet broken its numbers.

How does Ifood pay delivery people?

In accordance with Ifood policy, the company confirmed that it updated the pricing of grouped routes in April. Since April, the company has paid from R$3 for each extra delivery.

This minimum value applies to routes in which there is more than one order — so-called grouped, double or multiple routes — and may be higher, depending on the distance between deliveries.

Today, couriers receive a minimum amount of R$6.50 per route and R$1.50 per kilometer driven.