Mercado Libre – Latin America’s E-Commerce Leader

by Dave

Some stats on LatAm on an article about Mercado Libre (“Free Market” in English) – a company founded in Argentina in 1999. The eBay of Latin America. Argentina has a lot of tech/engineering talent. (Incidentally, Argentina has 3 Nobel Science Prize winners – same as India but with 3.5% of its population)

Not surprising, that Indian companies like Cognizant, ICICI OneSource, CRISIL are setting up operations here. Less employee turnover as well.


  • There is a market of 500 million people--about 8.6% of the world’s population–that the business media all too often neglects as it serves up story after story about China and India. That would be Latin America.
  • Between 2000 and 2007, the number of Internet users in Latin America grew from 18.1 million to 122.4 million, a compounded annual growth rate of 32% compared with only 12% in North America during the same period. Chile has the highest penetration of 43.2%, with Argentina at 39.7%, Brazil at 22.4%. Average penetration across Latin America is approximately 21.5%, as compared with 71.4% for the U.S.