Posted 11/23/2023, 3:30:00 PM
MercadoLibre Soars as the Amazon of Latin America Amid E-Commerce Boom
- MercadoLibre is the leading e-commerce company in Latin America, often called the "Amazon of Latin America"
- Latin America is undergoing rapid growth in internet and mobile connectivity, fueling e-commerce growth
- MercadoLibre is growing rapidly, with 40% revenue growth last quarter and expected 23% growth next year
- MercadoLibre has 21% market share of Latin American e-commerce, similar to Amazon’s share 10 years ago
- MercadoLibre combines e-commerce and digital payments, allowing it to benefit from multiple high-growth areas