iFood, the Latin American delivery platform owned by Prosus N.V., chaired by South African billionaire Koos Bekker, has announced the acquisition of Advolve, a Brazilian firm that uses artificial intelligence to improve performance marketing.
The deal strengthens iFoods push to grow its Ads division, a key part of its retail-media business and Prosuss wider plan to back technology firms shaping online commerce across Latin America, Europe and India.
Expanding iFoods ads business