In North America they have Amazon and Ebay, but in Latin America we have Mercado Libre the leading platform in e-commerce that has been operating in the continent for almost 20 years. His story shows that with patience and perseverance you can reach success.

“A Latino will never buy something he did not see and he does not know anyone who touched him” this was the premise of sales at the end of the 90s, but the Argentine Marcos Galperin decided to fight against the paradigms and bring the advance technology to the Latin American region.

And thank goodness that I never abandon this mission, because now Mercado Libre is located in the 10 most visited e-commerce websites in the world. Unraveling what perseverance can achieve.

The Story Behind Mercadolibre: The Largest E-commerce in Latin America 1

End of the 90s: The birth of Mercado Libre

Galperin planned Mercado Libre in March 1999 when he was studying at the business school at Stanford University. Fortunately, he counted on the help of his professor Jack McDonald to get all the partners that would finance his proposal.

After completing his studies, he dedicated himself to presenting his company in August 1999 and the following countries were extended: Brazil, Colombia, Chile, Ecuador, Mexico, Peru, Uruguay, Venezuela and, of course, Argentina, the country of origin.

In this time there were several obstacles that hindered the construction of the company, starting because in Argentina there was a financial crisis that was severely affecting the economy of the country, secondly, there was not the knowledge of the Internet, nor the broadband needed to understand an ecommerce.

The Story Behind Mercadolibre: The Largest E-commerce in Latin America 2

Although Amazon and Ebay were already operating throughout North America, moving this technology would be a challenge.

However, there were several companies that trusted in the vision of Marcos Galperin and became great partners and investors that materialized this idea, Among them are: JP Morgan Partners, Banco Santander and GE Equity. Subsequently, in 2001, an important shareholder joined, which was Ebay.

The Benefits of Mercado Libre

The beginnings of Mercado Libre were like an auction page, but with the entry of official stores such as Gopro, fixed prices began to be used, consolidating the company as a page for buying and selling products.

In addition, the most attractive factors of Mercado Libre is Mercadopago, which entered a feature in 2003. It is a payment platform that facilitates transactions on the page. Many compare this service with PayPal, since you can both affiliate them with your bank accounts and pay in other electronic pages.

The Story Behind Mercadolibre: The Largest E-commerce in Latin America 3

Already 2007 was one of the best years for the company, had already taken into account the company’s success. First, because founder Marcos Galperin was recognized as the best public sale of the year by Renaissance Capital, an organization that studies new public companies. He also obtained the third position in the ranking of the best places to work in Argentina through a study by the Group Managers for the auspicity of the Clarin newspaper.

Mercado Libre today

In addition to Mercado Pago, Mercado Libre has a set of solutions that improve the consumer experience, facilitating processes on the page. Among them are Mercado Envió, Mercado Crédito, among others.

The Story Behind Mercadolibre: The Largest E-commerce in Latin America 4

In 2014, Mercado Libre consolidated its position as the number one e-commerce company in Latin America, surviving all the obstacles that were presented years ago. And despite, that now has several competitors such as OLX and Linio, was the pioneer in bringing an alternative technology to democratize the market in Latin America.

Currently, Mercado Libre operates in 17 countries and has 211.9 million registered users, equivalent to 29% of the Latin American population. This page has become a way to do business in an easy and reliable way.

In addition, the same company is collaborating with start-ups, supporting entrepreneurship throughout the region. It has invested 3,000,000 USD in different initiatives around the continent, 9 in Argentina, 5 in Brazil, 1 in Chile and 1 in Mexico. Its objective is to increase this number and to be 10,000,000 invested for entrepreneurship in Latin America.

This platform, more than an ecommerce, is an opportunity to start and increase your profits in a free and practically free way. Many Latin American have an online store that they handle through Mercado Libre or generate extra profits with this page. An opportunity for the financial development of any person within reach of any home. This is the value of Mercado Libre.

If you like this post you can read: How does AmazonGo work?

If you have a friend that sells on this page, share this post with him, you will surely find data that will impress you.

Mercado Libre, leader of eCommerce in Latin America.