The Cisneros Group of Companies, through its Cisneros Interactive Group (CIG), made an initial investment of US$10 million in Mobly, Brazils leading home furnishings webstore and part of Rocket Internets corporate portfolio. The total investment could top US$20 million in a year.This investment is part of our commitment to diversify and strengthen our digital business network in the areas of e-commerce and digital advertising. Mobly is about to break into the traditional retail market of home furniture and décor and expand its dominance throughout Latin America, having the industrys leading selection of top-quality items, excellent customer service and fast delivery thats second to none, emphasized Adriana Cisneros de Griffin, vice chairman & vice president of Strategy of the Cisneros Group.Mobly was launched in Brazil just over 18 months ago and has already more than 6 million visits per month. Today, its catalogue exceeds 45,000 products.At Mobly, we offer quality products, in addition to a comfortable and pleasant shopping experience thats also fast and intuitive; the website has already surpassed the mark of 300,000 products sold and we closed our first fiscal year with a total revenue of US$90 million in sales, stated Víctor Noda, Moblys co-president, along with Marcelo Marques and Mario Fernandes.Brazil represents almost 65% of the e-commerce in the region and it continues to grow thanks to the progression of the countrys middle class, the penetration of the Internet, and the surge of credit cards and other electronic payment methods. Its a market with great potential, said Victor Kong, Chief Digital Officer of the Cisneros Group.
