MercadoLibre (Nasdaq: Meli), an e-commerce and classifieds company operating in several Latin American countries, plans to invest BRL 23 billion ($4.5 billion US) in Brazil this year, a top executive said on LinkedIn.

The investment will help expand its logistics reach, technology and operational quality by making shipments of goods faster, Fernando Yunes, the company’s senior vice-president and Brazil country lead said.

The investment will also support the company’s advertising and payment businesses, known as MercadoAds and MercadoPago, respectively.

MercadoLibre, known as MercadoLivre in Brazil, is a Uruguay-based marketplace that also owns and operates classifieds verticals.

Print Friendly, PDF & Email

Related Articles