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Last Updated:
2024-05-03 23:36:52

Mercado Libre

E-commerce company with wide Latin American presence
E-commerce company with wide Latin American presence

Mercado Libre, Inc. is a major e-commerce company with headquarters in Uruguay and operations across multiple Latin American countries. With millions of users, it is one of the most popular online marketplaces in the region. In 2023, Time recognized Mercado Libre as one of the 100 most influential companies globally.

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1999-08-02
Launch of Mercado Libre digital venture

On August 2nd, 1999, Mercado Libre, a digital venture, began its operations. It has since expanded its presence to 18 countries across Latin America.

2000
Founding of Mercado Libre

Mercado Libre was founded over 20 years ago with the goal of democratizing commerce and financial services in Latin America, impacting over 100 million active users.

2001-09
eBay Purchases Stake in Mercado Libre

In September 2001, online auction company eBay acquired a 19.5% stake in Mercado Libre. This partnership led to collaboration between the two companies to expand eBay sellers into Latin America.

2003
Launch of Mercado Pago

Mercado Pago was launched as the Fintech arm of Mercado Libre, creating a trusted and agile ecosystem for financial services within the company.

2004
Launch of Mercado Pago

Mercado Pago, an online payment platform, is introduced.

2005
Launch of Mercado Libre Classifieds in Peru

Mercado Libre Classifieds is established in Peru, expanding its operations.

2006
Mercado Libre becomes largest online trading platform in Latin America

By 2006, Mercado Libre hosted the largest online trading platform in Latin America, achieving profitability with $52 million in revenues and $1.1 million net income.

2007-08-09
Mercado Libre goes public on Nasdaq

On August 9, 2007, Mercado Libre went public on Nasdaq, becoming the first Latin American company to do so. Despite the onset of the Global Financial Crisis, the company saw a surge in its share price.

2008
Acquisitions by Mercado Libre

In 2008, Mercado Libre made strategic acquisitions including competitor DeRemate's operations and Classified Media Group (CMG), which expanded its e-commerce portals in Latin America.

2009
IPO on Nasdaq

Mercado Libre goes public with an Initial Public Offering (IPO) on the Nasdaq stock exchange.

2010
Launch of Mercado Ads

Mercado Ads, an advertising platform, is introduced by Mercado Libre.

2011
Transition to Open Source Technology

In 2011, Mercado Libre transitioned its platform to open source technology, allowing API developers to expand the platform's solutions and services.

2012
Launch of MercadoShops

In 2012, Mercado Libre launched MercadoShops, a platform that enables small and medium-sized businesses to create virtual stores on their websites, with integration to social networking sites.

2013
Launch of MeLi Commerce Fund

In 2013, Mercado Libre launched the MeLi Commerce Fund to invest in technology startups creating software using Mercado Libre's APIs.

2014
Acquisition of Portal Inmobiliario

Mercado Libre acquired Portal Inmobiliario, a Chilean classified ad website, in 2014.

2015
Launch of Mercado Envios and MELI Fund

Mercado Envios, a shipping service, is introduced along with MELI Fund, the corporate venture capital branch of Mercado Libre.

2016-03
Expansion into Córdoba, Argentina

In March 2016, Mercado Libre announced its expansion into Córdoba, Argentina with its new software center.

2016-08
Investment in MeLi Commerce Fund

By August 2016, Mercado Libre's MeLi Commerce Fund had invested US$1.5 million in 15 companies in Argentina, Brazil, and Mexico.

2016-10
Opening of Colombian Office in Bogotá

In October 2016, Mercado Libre opened its first Colombian office in Bogotá, becoming the company's fourth customer service center in Latin America.

2018
Alibaba offering medication delivery via Taobao

Alibaba started offering medication delivery through its platform Taobao in 2018, following the trend of expanding services beyond traditional e-commerce.

2019
Mercado Libre becomes largest online commerce ecosystem in Latin America

By 2019, Mercado Libre had become the largest online commerce ecosystem in Latin America based on unique visitors and page views. It operated in 18 countries across the region.

2020
The Rise of Mercado Libre

The event refers to the rise and growth of the e-commerce platform Mercado Libre. It is a significant development in the realm of online retail and digital marketplaces.

2020-03
New Distribution Centers in Chile and Colombia

In March 2020, Mercado Libre announced new distribution centers in Chile and Colombia.

2020-06
New Software Center in Colombia

In June 2020, Mercado Libre announced its new software center in Colombia.

2021-03
Investment in Brazilian Operations

In March 2021, Mercado Libre announced an investment of $1.8 billion in its Brazilian operations.

2022
Milestones Achieved by Mercado Libre in 2022

In 2022, Mercado Libre reached several milestones, including processing over $1 billion in payments, generating more than $10 billion in net revenue (a 49% increase), and making over 1 billion shipments through Mercado Envíos.

2023-03-21
History and Evolution of Mercado Libre in Latin American Ecommerce

Mercado Libre is the leading eCommerce platform in Latin America, serving as a marketplace for both buyers and sellers across various categories. It offers a wide range of products, including electronics, clothing, cars, and real estate. In 2022, the company achieved significant milestones, processing over $1 billion in payments, generating more than $10 billion in revenue, and facilitating over 1 billion shipments through Mercado Envíos.

2024-02
Mercado Libre's Expansion and Reinvention

Facing new rivals and political uncertainty, Marcos Galperin is leading Mercado Libre into new sectors such as fintech, mutual funds, and crypto. The company's continuous reinvention and adaptation to the challenges of Latin America have propelled its market cap to nearly $85 billion.

End of the Timeline
Mercado Libre

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Mercado Libre

E-commerce company with wide Latin American presence
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