MercadoLibre to double workforce amid e-commerce boom, hike Mexico investment

04/06/2021

Source: Reuters

MEXICO CITY (Reuters) -Argentina-based e-commerce giant MercadoLibre Inc is planning to double its workforce this year and invest $1.1 billion to expand its warehouse space and services in Mexico, spurred on by a pandemic-driven boom in online shopping.

The investment figure is nearly triple the $420 million MercadoLibre spent last year in Mexico, a rapidly growing market where it is battling to stay ahead of global giant Amazon.com Inc and other rivals.

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Vote of Confidence in Mexico’s Version of Amazon.com

Pesos by Flickr user AleiexThe New York Times, 11/06/2013

The Mexican venture capital firm Latin Idea Ventures said this week that it had made its first investment in an e-commerce company, Linio, a Mexico City start-up that, like Amazon.com in the United States, sells a wide array of products.

The investment, announced on Tuesday, was a sign that Latin Idea, founded in 2000, is growing and poised to make significantly larger investments as Mexico’s nascent start-up scene gains momentum.

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