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…
A success story of an Argentine tech company, a fleet of aeroplanes, electric vehicles: the immediate future of Mercado Libre
After exceeding USD 100,000 million of market capitalization, free-market plans to continue growing by investing in logistics research and development and optimization of operations. With total revenues of USD 2,646 million, according to its latest financial results, most of it will be used for investments to strengthen the main business in 2021. Just a few months ago, it acquired a fleet of four aircraft in Brazil to streamline distribution processes. The main objective of this decision was to strengthen the…
Why Companies in Latin America Are Going Online for Business Expansion?
The current state of the world has altered the way in which companies, countries, and interconnected economies conduct business. With physical spaces now accompanied with taboo and public health fears concerning the pandemic, individuals and businesses are resorting to going online. The sudden demand in online business platforms didn’t catch too many by surprise though. Many business expansions had already migrated towards going online. Notably, companies in Latin America were, and still are, going online…
Covide 19 awakens a new customer base for Latin America’s e-commerce giants
The coronavirus pandemic is reshaping consumer habits in Latin America, sending droves of buyers online for the first time. The coronavirus pandemic is reshaping consumer habits in Latin America, sending droves of buyers online for the first time. MercadoLibre Inc, the region’s largest e-commerce marketplace, said it registered 1.7 million new customers from February 24 to March 22, up 28 percent from the same period a year earlier. While lockdowns to slow the spread of the coronavirus have been a boon…
MercadoLibre profits up 47.6% in the first quarter
The Argentine e-Commerce company reported a net income of USD 473.8 million, up 47.6% The e-commerce company MercadoLibre reported a net utility of USD 473.8 million in the first quarter of the year. This figure represents an increase of 47.6% with respect to the same period of 2018, closed with a net income of USD 371 million. As indicated by the company in its intermediate financial statements, the marketplace increased its revenue in dollars by an annual 79.8%. Meanwhile, revenues outside the trading platform…
