Brazil

World Cup ups online sales in Argentina

The FIFA 2014 World Cup Brazil is over. And for those who think Germany was the big champion, this headline might come as a surprise to you. At least one South American team  “won” with the tournament in the e-commerce segment. We’re talking about MercadoLibre, which is headquartered in Argentina and has strong operations all over Latin America. According to media reports,...

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MercadoLibre has no acquisition plans

To all of those who know Latin America’s ecommerce platform MercadoLibre, this announcement may sound as a surprise. In a conference call with investors, the company’s chief financial officer Pedro Arnt said Mercado has no new acquisition plans in the pipeline. The statement follows a series of acquisitions the Latin America major completed just a few months ago. Those include two...

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MercadoLibre up, despite devaluation

Despite having a $57.4 million loss as a result of a devaluation in the Venezuelan Bolívar, MercadoLibre (Nasdaq:MELI) posted strong second quarter (Q2) results. According to the company’s earnings release, net revenue increased 17.5 percent, year over year, to $131.8 million. In local currencies, that growth rose by 65.9 percent. Brazil, Mercado’s biggest market, grew revenues...

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Webmotors to increase capital of Carsales.com

Webmotors, a website focused on cars which has strong operations in Brazil, announced it will sell more  stock which  will increase the value of Carsales.com 30 percent share of the company by Brazilian reais BRL180.5 million ($79.3 million). The deal was published recently in the Diario Oficial da Uniao, the country’s official gazette. This way,  Carsales.com’s capital in...

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Politician in TV ad irks officials (UPDATE)

(Since this July 7 report the election judge change his  ruling and said “Tiririca” could appear in the ad promoting Bomnegocio.) It seems that workers and executives at Bomnegocio are not laughing anymore. Earlier this week, Brazil’s election officials banned one of their funny TV commercials, which featured politician Francisco Oliveira Silva, better known as “Tiririca.” The...

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Brazilian bank finances B2W growth

p5rn7vb Brazil’s development bank (BNDES) announced it has approved financing of US$657 million for B2W Companhia Digital, one of the leading e-commerce companies in the country. The bank said the loan will fund 60 percent of projects for the company, which plans to use the money to implement distribution centers and to improve logistics, information and communications technology (ICT) by...

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