500 Startups, the seed fund and startup incubator program based in Mountain View, CA, has expanded into Mexico by bringing Mexican startup accelerator Mexican.VC into the 500 Startups family. According to the blog post by 500 Startups on the merger, the goal is to help fund and launch more startup companies in Latin America. According to the post, Mexico is the 12th largest economy in the world, and with 3.9% growth, it's growing faster than Brazil. In addition, Mexico has the fifth largest Facebook user base and the seventh largest Twitter user base in the world. Further, e-commerce is growing roughly 30% each year in Latin America.
Link to 500 Startups post: http://500.co/2012/08/07/500-startups-mexican-vc-hostile-takeover/
Links to articles:
http://venturebeat.com/2012/08/07/watch-out-mexico-500-startups-dave-mcclure-takes-over-mexican-vc/
http://gigaom.com/2012/08/07/500-startups-jumps-into-mexico-investing-via-local-accelerator/
Link to 500 Startups post: http://500.co/2012/08/07/500-startups-mexican-vc-hostile-takeover/
Links to articles:
http://venturebeat.com/2012/08/07/watch-out-mexico-500-startups-dave-mcclure-takes-over-mexican-vc/
http://gigaom.com/2012/08/07/500-startups-jumps-into-mexico-investing-via-local-accelerator/
