UM NEGÓCIO BILIONÁRIO QUE DEVOLVE DINHEIRO - A HISTÓRIA DO MÉLIUZ

Summary

The script narrates the inspiring journey of Méliuz, the first Brazilian startup to go public and become a billion-dollar business. Founded in Belo Horizonte by economists Fábio Guimarães and Israel Salmen, Méliuz revolutionized the market by offering cashback to customers on online purchases, an unprecedented concept in Brazil at the time. The company faced numerous challenges, including skepticism, manual operations, and fierce competition, but persevered through innovation, strategic partnerships, and a culture of constant testing and reinvention. With a focus on data intelligence and financial services, Méliuz expanded its offerings and eventually went public on the B3 stock exchange, becoming a symbol of Brazilian entrepreneurial success.

Takeaways

• 🚀 Méliuz, a startup from Belo Horizonte, Brazil, became the first Brazilian startup to go public and reach a billion-dollar valuation.
• 💡 Founded in 2011 by economists Ofli Guimarães and Israel Salmen, Méliuz aimed to return part of the money spent by customers in online purchases.
• 🇧🇷 The cashback concept was new to Brazil at the time, although it had been implemented in other countries.
• 🔄 Méliuz was created to solve two issues: dissatisfaction with financial investment services and unappealing loyalty programs.
• 👥 The founders initially faced challenges convincing businesses and customers of their model, operating manually at the start.
• 💻 Despite early struggles, including a lack of technological solutions and skepticism from potential customers, Méliuz persisted.
• 🌍 Participation in the Startup Chile program provided crucial financial support and networking opportunities, saving the company from early failure.
• 📈 By 2013, Méliuz's revenue grew significantly, from R$700,000 to R$30 million, without proportional cost increases.
• 💳 In 2019, Méliuz launched Brazil's first cashback credit card in partnership with Banco Pan and Mastercard.
• 📊 Today, Méliuz offers a range of financial services and big data solutions, with a reported R$2.2 billion in transactions in 2020.

Q & A

What is the basic premise of the company Méliuz?

Méliuz is a Brazilian startup that refunds money to customers for their online purchases, a concept known as cashback. It was the first of its kind in Brazil and has grown to become a billion-dollar business.

Who are the founders of Méliuz and where was it created?

Méliuz was founded by two young economists, Ofli Guimarães and Israel, in Belo Horizonte, Minas Gerais, Brazil.

What was the initial challenge Méliuz faced with its business model?

Initially, the challenge was to convince business owners and executives to trust the solution and to manually compute the first purchases and commissions, which was a difficult and time-consuming process.

How did Méliuz approach the issue of customer trust, especially being a small company based in Belo Horizonte?

Méliuz had to overcome the skepticism of potential customers who were wary of the idea of a company refunding part of their online spending, especially in a country with a history of scams and pyramid schemes.

What was the financial situation of Méliuz in 2012 and what actions did the founders take to prevent bankruptcy?

In 2012, Méliuz was operating at a loss and was on the brink of bankruptcy. The founders sought investment and were accepted into the Startup Chile program, which provided them with $40,000 and the opportunity to grow their business.

What was the impact of the Startup Chile program on Méliuz?

The Startup Chile program provided Méliuz with not only financial support but also the opportunity to network with other entrepreneurs, gain new experiences, and improve their business model, which was crucial for their survival.

How did Méliuz transition from a small startup to a major player in the cashback market?

Méliuz grew by continuously testing new solutions, learning from failures, and expanding its services. It also invested in influencer marketing and created a customer referral program to reduce customer acquisition costs.

What significant milestone did Méliuz achieve in 2019?

In 2019, Méliuz launched the first cashback credit card in Brazil in partnership with Banco Pan and Mastercard, which allowed customers to receive cashback directly into their accounts.

How has Méliuz diversified its business beyond just cashback services?

Méliuz has diversified by offering financial services such as credit cards, loans, and insurance sales, as well as big data services that provide insights into customer purchasing behavior to enhance the shopping experience and increase sales for partners.

What was the significance of Méliuz's listing on the B3 stock exchange in 2021?

Méliuz's listing on the B3 stock exchange in 2021 was a significant achievement as it was the first Brazilian startup to achieve this milestone, raising its public profile and providing capital for further growth and expansion.

What is the philosophy behind Méliuz's employee ownership policy?

Méliuz's employee ownership policy is based on the idea of a 'partnership' culture, where employees are encouraged to feel like owners from day one, which is believed to increase their commitment and contribute to the company's success.