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Peter Thiel Invests in Brazilian E-Commerce Furniture Startup Oppa
Peter Thiel, co-founder of Paypal and the first outside backer in Facebook, has just invested in Brazilian furniture Oppa. When Thiel, who has made over a billion from his 0,000 investment in Facebook, green lights something, people take notice. Combined with Thiel’s investment, Oppa has raised million in its latest round of funding.
Oppa bills itself as the trendy Brazilian alternative to Ikea and was launched last year by Harvard Business School graduate Max Reichel, who formerly worked at McKinsey as a consultant. The products are all designed in-house by a young team and everything is built locally in Brazil. Designers can even submit ideas to the Oppa website, some of which are then produced.
Oppa’s name comes from a Portuguese expression for surprise and is online only to keep costs low and production efficient. The company is drawing a lot of comparisons to eyeglass retailer Warby Parker.
We for one are in love with the furniture. The Poltrona Barcelona chair (pictured above) comes in colors like red, lime green, orange, and yellow and is retailing for around 0. Unfortunately the brand is only available in Brazil at the moment, but we are hoping that global expansion is in the works.
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