“We have the local relationships,” Renno said. “On the other hand, they are the world’s largest player, so I think it’s going to be a great combination for both sides.” The deal, Priceline’s first investment in Brazil, comes after Hotel Urbano became last year’s top recipient of venture capital funding in a round led by Insight Venture Partners and Tiger Global. The Rio de Janeiro-based online travel agency expects to generate earnings before interest, taxes, depreciation and amortization this year for the first time, as it works toward an initial public offering. Get the full story at BloombergBusiness