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


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 Inc and other rivals.


Vote of Confidence in Mexico’s Version of

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 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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