Mercado Libre

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

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.

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.

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

Mercado Pago, an online payment platform, is introduced.

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

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.

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.

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.

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

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

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

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.

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

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

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

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

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

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

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

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.

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.

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

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

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

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.

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.

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.