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Brazil

Paulo Veras

Paulo Veras is a Brazilian entrepreneur who has achieved success with 99, an application for taxi drivers in his country.

Profile

Birth Year: 1975
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Education

1994, Escola Politecnica da Universidade de Sao Paulo, Mechatronical Engineer
2001, INSEAD, MBA
2005, Harvard Business School, Business Administration and Management
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Early days

Paulo Veras started working at ABB, a multinational company that focused on automation technology, but soon realized that he was not interested and quit his job to start his own company. He founded Tesla with three of his friends, but this is not the Elon Musk's Tesla. It is one of the first internet service companies in Brazil.

Although Tesla did not become the company for which he became famous, it was still a successful enough business. Even JPMorgan Chase acquired a part of the company in 2000. In that same year, Paulo Veras also sold another company he had founded, SP Guide. SP Guide was the first online guide in Brazil. Paulo sold the company to StarMedia Group.

Career

In 2005, Paulo Veras joined Emprender Endeavor Brasil, assuming the role of CEO. Working there, he managed to expand his knowledge and make several relationships, obtaining many contacts that would help him.

In 2012 he founded 99 Taxis, with the help of Renato Freitas and Ariel Lambrecht. They started with only five people and required constant help, but in just two years the company reached more than 85 employees, with access to more than 150 cities in Brazil.

Paulo Veras' company has been very successful, as it has helped taxi drivers get more recognition, as well as earn more money. In 2017, the company obtained an investment of $100M from SoftBank of Japan to increase its growth. It also received financing from Didi Chuxing, the largest Chinese taxi business.
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Other facts

Company's name, 99 Taxis, was chosen by the team because it has a universal value. Paulo Veras always wanted to expand the business to other countries. Also, 99Taxis is very easy to find and remember.

In 2009, Paulo Veras won the Faz Diferença award, which is an initiative of the newspaper O Globo to reward those who work to change Brazil.

Tweets

Paulo Veras : @paveras

Video

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Books

"Por Dentro da Bolha", Edições Inteligentes, 2002 (ISBN 857-6150298)

Books