During the covid pandemic of 2020 Mercadolibre came out as one of the biggest winners, experiencing growth of more than 100% in their volume of transactions and becoming the biggest company in all Latin America. But, how did this garage startup founded 20 years ago become the biggest online commerce and payments ecosystem in the region?
Mercado Libre, the largest online eCommerce ecosystem in Latin America, has disrupted the retail industry. Its innovative business model has positioned the company as a winner in Latin America, which has been reflected in its impressive growth.
Similar to Rakuten in Japan or Alibaba in China, MercadoLibre, which translates to “Free Market”, is an online commerce platform that currently operates in 18 countries in Latin America.
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