MercadoLibre expects to handle US$4.5bn in transactions this year

- Monday, August 22, 2011

MercadoLibre expects to handle US$4.5bn in transactions this year

Latin American e-commerce company MercadoLibre (Nasdaq: MELI) expects transactions during 2011 to generate a volume of US$4.5bn, for 40% growth, MercadoLibre Argentina CEO Juan Martín de la Serna told BNamericas.

"In the first half of this year, we did transactions for a total of US$2bn, which represents an increase of approximately 40% compared to the first half of the previous year," the executive said. The number of items sold during H1 amounted to 22.5mn, the executive said.

At 50%, Brazil is the largest contributor to the firm's overall revenues, de la Serna said, followed by Argentina with some 20%.

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Founded in 1999, MercadoLibre is a regional e-commerce technology company. Through its primary platforms, MercadoLibre.com and MercadoPago.com, it provides solutions to individuals and companies buying, selling, advertising and paying for goods online.

In Latin America, the firm has operations in 12 countries and employs 1,600 people across the region. It also operates in Portugal. The company recently opened an R&D office in Palo Alto, California.