Image credits: MercadoLibre
/
Weekly Roundups

Mercado Libre to Invest US$1.1 billion in 2021 in Mexico

By MBN Staff | Thu, 04/08/2021 - 11:52

Mercado Libre will invest US$1.1 billion in 2021 to expand its storage and services space in Mexico. This figure exceeds the total invested by the Argentine e-commerce giant in the last four years in the country. It is nearly thrice the US$420 million that Mercado Libre invested in 2020. According to the company, the investment will be mainly focused on strengthening fintech solutions such as Mercado Crédito and supporting financial education programs. In addition, Mercado Libre will create more than 4,700 jobs in Mexico.

 
 

“In 2021, we want to be an active part of the joint reconstruction (economic recovery) because we know that this year will continue to be full of challenges. With this investment, we will continue to develop our technology solutions so that more people are increasingly connected to what they need. We will continue working on our tools and services to generate more and more opportunities,” said David Geisen, Country Manager of Mercado Libre Mexico in a statement.

In 4Q20, Mexico surpassed Argentina in terms of items sold through Mercado Libre. In revenue, however, the Mexican market still represents the company's second-fastest-growing market after Argentina. Mercado Libre has also increased its delivery network in the country, most recently opening a fourth distribution center in Nuevo Leon. 

More news below:

  • Around 533 million Facebook accounts were leaked online for free, according to researcher Alon Gal, Co-Founder of cybersecurity firm Hudson Rock. Data leaked included phone numbers associated with the accounts, Facebook user documents, full names, locations, biographies, dates of birth and email addresses of people in 106 countries. In Mexico, 13 million leaks of user accounts were identified.

  • Apple will begin enforcing a new privacy notification rule in its new iOS 14.5 operating system. The one-time notices will require the app developer to ask the user's permission before tracking activities on other companies' apps and websites. Companies such as Facebook have warned that it will affect their sales.

  • Google announced this week the actions it will take to prevent disinformation during the upcoming elections on Jun. 6. The company will encourage voter participation, helping users to get to know candidates, their platforms and the most relevant information about the election. The platform will allow only electoral information from authorized and official sources, providing “timely information on where to find a polling station, how to get there and what to take with you.”

  • Yahoo! will permanently shut down Yahoo Answers. In a statement, the company said that from Apr. 20, it will no longer be possible to post new questions or answer other users' questions. As of May 4, the website will no longer be accessible and users will be redirected to Yahoo's homepage.

  • Amazon backs the initiative to raise corporate taxes in the US, said Jeff Bezos, the company's Founder and outgoing CEO, in a statement on Tuesday. “We recognize this investment will require concessions from all sides — both on the specifics of what is included as well as how it gets paid for (we are supportive of a rise in the corporate tax rate),” Bezos wrote. “We look forward to Congress and the Administration coming together to find a right, balanced solution that maintains or enhances US competitiveness.” 

Photo by:   MercadoLibre
MBN Staff MBN Staff MBN staff