The founder who launched the ‘Amazon of Latin America’ from a parking garage has transformed retail in the region—and earned himself $7 billion
Mercado Libre has also benefited from “being a company of Latin America, from Latin America, and for Latin America,” says Matteo Ceurvels, principal Latin America analyst for eMarketer. In 2022, Mercado Libre accounted for 34% of online sales in Brazil—“nearly the same share as its two largest competitors combined”—according to Ceurvels.
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