Mercado Libre Unveils Record US$2.4 Billion Investment in Mexico

Mercado Libre has unveiled its ambitious plans for 2024, announcing a record investment of US$2.45 billion in Mexico, marking its largest investment in the country to date.

"We are aware of the transformative power of our ecosystem, and that is why we are increasing investment in Mexico for the development of technological solutions for our platforms, both in e-commerce and financial services, as well as strengthening our logistics operation, among others. We are firmly committed to positively impacting the experience of our users and buyers," said David Geisen, General Manager, Mercado Libre Mexico. 

With over 414,000 Mexican families relying on Mercado Libre as their primary source of income, the company seeks to bolster economic growth and social stability.

In the fourth quarter of 2023, Mercado Libre's Mexican operations fueled revenue expansion, achieving a local year-over-year growth rate exceeding 51%. The company's extensive logistics infrastructure includes same-day delivery in 24 cities, supported by over 90 logistics centers, eight distribution centers, and a fleet of 900 electric vans.

The company reported a revenue of US$4.2 billion for the fourth quarter of 2023, showing a 42% growth compared to the previous year. Mercado Libre experienced expansion in Brazil (46% year-on-year) and Mexico (51% year-on-year) across its Commerce and Fintech divisions, with growth rates of 48% and 34% year-on-year, respectively.