MercadoLibre has emerged as an e-commerce titan, essentially Latin America’s answer to Alibaba, and valued at over $40 billion as consumers across the region have turned to online shopping. The company whose name translates to “free market”, hosts the largest online commerce and payments ecosystem in the region. It enables e-commerce, digital, and mobile payments for its customers through a suite of technology solutions across the complete value chain of commerce.
Over the years, MercadoLibre has expanded into several different solutions, following a mission to democratize commerce and advance financial inclusion. The platform and related services provide users with tools that address the distinctive cultural and geographic challenges of operating in Latin America, a region with a population of over 650 million people and one of the fastest-growing internet penetration rates in the world.
Beyond its core MarketPlace platform for users to sell products, MercadoLibre offers a payment platform for online sales, advertising, tools for retailers to easily build their own e-commerce platforms, credit scoring, as well as a logistics business facilitating fast and seamless shipments across the different geographies.
The company is currently present in 18 countries including Argentina, Brazil, and Mexico, among others. Boasting almost 140 million users and based on unique visitors and page views, MercadoLibre is the market leader in each of the major countries in which it operates.
Yet Latin America is still in the early stages of the digital transformation of retail. As a result, the company continues to focus on growing its enormous footprint by further enhancing the platform’s ecosystem to better serve individuals, brands, retailers, and other businesses that want to buy or sell goods and services online.