Mercado Libre México, Company History, Net Worth And Competitors
Mercado Libre, Inc. (Mercado Livre in Portuguese) is an Argentine firm located in Buenos Aires that offers online markets specialized in e-commerce and online auctions, such as mercadolibre.com. Mercado Libre had 174.2 million users in Latin America as of 2016, making it the most popular e-commerce site in the area. Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Spain, Ecuador, Guatemala, Honduras, Peru, Panama, Uruguay, and Venezuela are among the countries where the corporation operates.
Marcos Galperin, a Stanford Alumnus School of Business graduate, launched Mercado Libre in 1999 with the goal of creating an e-commerce firm dedicated to servicing Latin America's embryonic but rapidly developing Spanish and Portuguese-speaking markets.
The firm was founded in a garage in Buenos Aires, much like a Silicon Valley start-up. By 2006, Mercado Libre had become Latin America's largest internet trade platform. Mercado Libre made a profit just before its 2007 IPO, something that most online start-ups fail to do. For the entire year of 2006, it generated $52 million in sales and $1.1 million in net profitability. The IPO raised $289 million in total.
Based on unique users and page views, Mercado Libre was the largest online commerce ecosystem in Latin America by 2019. Brazil, Argentina, Mexico, Chile, Colombia, Peru, Uruguay, Venezuela, Bolivia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, and El Salvador were among the nations where it operated.
Mercado Libre is Latin America's top e-commerce technology business, having been founded in 1999. It provides solutions for consumers and businesses to purchase, sell, promote, send, and pay for products and services online through its Mercado Libre, Mercado Pago, and Mercado Envios platforms.
Mercado Libre has served 65 million buyers with a seller count of 12 million. It has established an online marketplace where people can trade a wide range of commodities and services in a simple, safe, and efficient manner. According to ComScore Networks' measurements, Mercado Libre is among the top 30 sites in the world in terms of page views and is the mass consumption platform with the most unique visitors in the most significant countries where it operates. Since its initial public offering in 2007, the company's shares have been traded on the Nasdaq.
Mercado Libre, is Latin America's e-commerce behemoth, with a market valuation of almost 77.5 billion dollars as of December 2021. When compared to the company's net worth a year ago, this reflects a value rise of more than 50%. Mercado Libre was founded in 1999 in Argentina. Since then, the firm has grown to a number of Latin American nations, establishing itself as the region's most popular online marketplace.
Here are the top competitors of Mercado libre
- Pinduoduo Inc
- Chewy Inc
- Facily Solucoes e Tecnologia
MercadoLibre, Inc. is an online retailer. The company facilitates trade in Latin America through its marketplace platform, which is aimed at providing customers with a portfolio of services to make commercial transactions easier.
MercadoLibre, Inc. is a Latin American company that runs internet shopping platforms. According to the 21 American online retail experts, MercadoLibre is on the verge of breaking even. They expect the business to make a final deficit in 2020 before turning a profit of US $121 million in 2021.
Mercado Libre had built a varied business strategy targeted at expanding internet commerce during the previous 20 years. The firm created other business divisions to provide payment solutions, shipping, financing, advertising, and software services using the Mercado Libre Marketplace as the core and engine.
The Mercado Libre ecosystem was created to offer users a comprehensive set of services to help them complete commercial transactions, as well as to provide buyers and sellers with an environment that encourages the growth of a large e-commerce community in Latin America, a region that faces unique cultural and geographic challenges.