Avenida

About Avenida

Avenida.com began its journey in December 2013, founded by Federico Malek and Alan Kraus, both formerly of Groupon, with the ambitious goal of becoming the Argentine equivalent of Amazon. The e-commerce platform initially focused on selling home goods, electronics, and fashion, aiming to provide a wide variety of products with a strong emphasis on logistics and timely delivery. The company secured an initial investment of US$3 million from IRSA for a 25% stake and later attracted significant funding, including a US$30 million round in 2015 from major international funds like Tiger Global and Naspers.

Despite early growth, Avenida.com faced a severe crisis in 2016 due to a combination of falling domestic consumption, economic issues in Brazil, and the withdrawal of its key investors. This led to a critical juncture where the original capital-intensive retail model, which involved holding its own stock, became unsustainable. The company was subsequently rescued from the brink of bankruptcy by the founders of Good People, an extreme sports marketplace, who, along with other investors, pivoted the business. Under the leadership of new CEO Daniel Jejcic, the company was reconverted into a technology partner.

Now operating under the brand "avenida+", the firm provides end-to-end marketplace management services. Its business model shifted to a B2B focus, creating and managing online marketplaces for large clients such as banks, financial institutions, and retailers, including notable names like Banco Ciudad and Banco Industrial. The company offers a comprehensive suite of services that includes strategic, commercial, and operational management, from seller onboarding and catalog integration to digital marketing and logistics. This strategic shift proved successful, allowing the company to leverage its technology and e-commerce experience to power other businesses' online retail operations.