Mercado Libre Achieves Record Growth in Q2 2024

As e-commerce heats up in LATAM, who can catch Mercado Libre?

In the second quarter of 2024, Mercado Libre reported impressive financial results, with a GMV of USD 12.6 billion, a 20% increase year-on-year. Revenue surged by 42% to USD 5.1 billion, while net profits soared by 103% to USD 531 million. The company also surpassed Petrobras to become the most valuable company in Latin America, driven largely by growth in Brazil and Mexico. Additionally, Mercado Pago's active users increased by 37%, exceeding 50 million. The company plans to invest USD 2.5 billion in Mexico in 2024 and expand its workforce by 30%.

Mercado Libre Fund

A Corporate Venture Capital Fund that invests in tech companies, typically in Series A & B rounds, that directly or indirectly democratize commerce and financial services in Latin America.

MercadoLibre, Inc. operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps. The company also offers Mercado Fondo that allows users to invest funds deposited in their Mercado Pago accounts; Mercado Credito, which extends loans to certain merchants and consumers; and Mercado Envios logistics solution that enables sellers on its platform to utilize third-party carriers and other logistics service providers, as well as fulfillment and warehousing services for sellers. In addition, it provides Mercado Libre Classifieds, an online classified listing service, where users can list and purchase motor vehicles, real estate, and services; Mercado Libre Ads, an advertising platform, which enables large retailers and brands to promote their products and services on the Internet; and Mercado Shops, an online storefronts solution that enables users to set-up, manage, and promote their own digital stores. MercadoLibre, Inc. was incorporated in 1999 and is headquartered in Montevideo, Uruguay.

COM:MERCADOLIBRE

Mercado Libre Fund

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21/11 15:29

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