Latam’s MercadoLibre profits soar, and the company plans more growth.
South American e-commerce giant MercadoLibre Inc (MELI.O) reported on Wednesday that its second-quarter net income rose 79.8% year-on-year, beating earnings forecasts. The company, present in 18 countries including Brazil, Mexico and Colombia, reported a net income for the three months of $123 million, beating a Refinitiv forecast of $98.9 million. After the results, MercadoLibre’s senior strategy vice president Andre Chaves said the company has plans to grow in Latin America, but “there is nothing…
MercadoLibre plans to double workforce with 16,000 new jobs in Latin America
Latin American e-commerce powerhouse will double its workforce across the region to handle the surge in online purchases, according to company staff. Latin America’s e-commerce powerhouse MercadoLibre Inc, which has grown exponentially during the coronavirus pandemic, will double its workforce across the region to handle the surge in online purchases. The Buenos Aires-based company plans to end the year with a direct workforce of 32,000 people, up from 15,500 at the end of 2020, said Sebastián Fernández…
Argentina’s most successful digital platform MercadoLibre to invest record USD1.8 billion in Brazil
Latin American e-commerce powerhouse MercadoLibre Inc. is more than doubling its Brazilian investment this year, planning to deploy in 2021 the same amount it spent in the past four years combined. Latin American e-commerce powerhouse MercadoLibre Inc. is more than doubling its Brazilian investment this year, planning to deploy in 2021 the same amount it spent in the past four years combined. The firm plans to pour a record 10 billion reais (US$1.8 billion) into Brazil in 2021, up from four billion reais…
MercadoLibre is the leading e-commerce and fintech company in Latin America.
MercadoLibre is an Argentinian company, founded in 1999. It went public on August. 10, 2007, at an IPO price of $18.00/share. From the marketplace MercadoLibre, the company expanded its business to multiple lines: Mercado Envios is a shipping solution for the marketplace available in Brazil, Argentina, Mexico, Colombia, Chile and Uruguay. It integrates carriers and warehouse services with MercadoLibre’s proprietary technology decreasing shipping costs and optimizing efficiency. Mercado Pago allows users…
Mercado Libre Starts Accepting Payment in Bitcoin in Brazil
Mercado Libre decision to accept Bitcoin is a major breakthrough, as it gives legal status to cryptocurrencies. There are more than 3,000 stores or brands within Libre’s ecosystem in the region. Brazilians can now pay in Bitcoin for the goods they purchase through Latin American e-commerce site Mercado Libre. The online retailer has partnered with Atlanta, Georgia-based payment services provider Bitpay to enable the service on its platform. Mercado’s decision to accept Bitcoin is a major…
