Lupa publishes a page on its website to present its business model. The signatory declares that acts as an agency and selling their content. On this page, Lupa reveals that it is being incubated by Piauí magazine, with investment from João Moreira Salles, owner of the magazine.
However, Lupa does not disclose any financial information or provide an overview of expenditure.
4a marked as Fully compliant by Sergio Lüdtke.