Blip, a large Brazilian company in the business of digital marketing and conversational AI (chatbots for customer relations and marketing and sales through social networks such as WhatsApp, Messenger or Instagram), closed last week the acquisition of 100% of the capital of the Spanish-Mexican company Gus, focused on the same sectors, but with a presence in Mexico and Spain. Gus was founded in Mexico by its CEO, Spaniard Jaime Navarro, and two Mexican partners – Pablo Estévez and Daniel Zenteno – and has grown rapidly.
In 2022, Gus had a turnover of 3 million dollars and in 2023 he will close it with five million dollars (4.6 million euros) of income, a 66% growth, with a staff of 75 people between the two headquarters and 150 clients companies such as Prosegur, Aquaservice, Merlin Properties or Cinépolis. Gus is reintermediating brands’ sales and customer service activities and communication with their users with next-generation AI-powered solutions, such as ChatGPT, click trackers that lead to chats, and social listening solutions to monetize conversations that occur in the main messaging apps such as WhatsApp, Instagram and Facebook.
Although the amount of the transaction has not been made public, market sources estimate that these operations are closed at a multiple of between two and three times the turnover, which would mean a figure starting at ten million euros.
Blip was founded in Brazil 23 years ago by its CEO, Roberto Oliveira, and two other partners, Daniel Costa and Marcelo Hein . Currently, it has a turnover of 150 million dollars, with a staff of 1,500 employees. Although the founders remain in the capital, the most important shareholder is the American fund Warburg Pincus, which in 2020 injected 100 million and added another 70 million in 2022 in two rounds of financing. Blip now has another round open to continue financing its growth.
In 2022 , Blip acquired the Brazilian company Stilingue , a pioneer in the use of AI for social media monitoring, and now buys Gus to use it as a growth tool outside of Brazil. On the one hand, Gus is already present in Mexico and Spain and with its technology in Spanish it opens the door to entry into other Latin American markets. In fact, the CEO of Gus, Jaime Navarro , will be the new executive director of Blip for Iberia and Latin America.
But Blip also wants to use Gus as a base for growth in Europe, using Madrid as its headquarters. The objectives are to achieve a presence from Spain in the large European countries, mainly Germany, France and Italy, -markets where WhatsApp has penetration of more than 90%- and the Middle East.