VTEX’s capital opening in 2021 brought a new layer of responsibility to the company. According to Alexandre Soncini, co-founder of the company, becoming a public company requires more than governance-imposes a new pace of internal and external articulation. “It’s not that it slows down, but it makes you reflect more and have more affection in decisions and in the way of communicating,” he says.
The Executive recognizes that, since the IPO [Oferta Pública de Ações]VTEx has undergone a process of devaluation of actions, which made the mistakes more exposed. “It’s like becoming a television actor, your life is exposed,” he compares the company’s trajectory in the program From zero to topdo Infomoney.
He points out that market pressure and macroeconomic oscillations can divert the focus, but the company has been able to maintain long -term vision.
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A differential of VTEX compared to other listed companies, according to Soncini, is that it remains a “Founder-Led” company.
“Founders still control the company and have direct exposure to capital, so they continue to make difficult decisions.”
The focus on sustainable results, not just rapid growth, also helped transition to the new environment. “We have always been forged for efficiency. We were not burn cash. This made it easier when the market changed the mindset.”
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TECH CRISIS AND STRATEGIC TURN: Bubble Bubble Learning
The executive recalls the thud suffered by the technology sector between the end of 2021 and the beginning of 2022, when there was a crash in the actions of companies in the segment. For him, despite the impact, the episode had a positive effect in correcting distortions. “Before the bubble bursts, many companies were super evaluated. That was not real,” he says.
According to Soncini, excess capital in the sector led to a growth model at any cost, without guarantees of financial sustainability.
“Suddenly investors changed the criterion. They started to demand efficiency, cash generation, profit. It was a reality shock for everyone.”
VTEx, he says, was one of the first to adjust the route. “We again prioritize what has always been our DNA: growth efficiently.” This included difficult decisions such as cost cuts and layoffs. “But that was what needed to be done to ensure perpetuity.”
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Today, the company is going through a new cycle, with positive results and cash generation. “We revisit our strategic planning and adjusted the focus for the next five years, also considering the impact of artificial intelligence on business,” says Soncini.
VTEX’s global strategy and the role of Brazilians in the international scenario
With about 1,500 employees, half in Brazil, VTEx maintains offices in 15 to 20 countries, including the United States, Mexico, Argentina, Chile, Colombia, European countries and Asia. Much of the engineering team remains in Brazil, while areas such as sales, marketing and customer support are strategically allocated around the world.
Soncini, who lived for nine years in the US and currently lives in Spain, highlights the differential of Brazilian professionals in the global context.
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“It is difficult to find the dedication, persistence and resilience of the Brazilian in other markets.”
For him, there is a wrong perception in Brazil that the local professional is lower than the Silicon Valley or European universities.
This appreciation of Brazilian talent has influenced VTEx’s own culture. In many of the offices outside Latin America, the model is hybrid-with half of the local team and half composed of Latin Americans. “This creates a multicultural environment where both sides learn and are inspired,” he says.
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Mutt syndrome and global ambition: breaking their own barriers
Asked about Brazilian vision of themselves, Soncini criticizes what he calls “mutt syndrome”. “We create our own limitations. By not knowing it was impossible, we went there and did it,” he says, noting that when this mental barrier is taken, the Brazilian professional is perfectly competitive globally.
For him, startups like VTEx itself, as well as companies like XP and others from the national technological ecosystem, have proven that they owe nothing to American big techs or centuries -old European companies. “The delivery capacity is here. The difference is in believing it.”
At the moment, VTEx’s mission is to align execution and strategy, maintaining focus and preparing for a future with artificial intelligence as a protagonist. “Execution has to always serve the strategy,” says Soncini.
