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Argentinian entrepreneur Marcos Galperín’s brainchild, Mercado Libre, has once again secured its position as the most valuable company in Latin America. With a market price surpassing US$90 billion, the e-commerce and financial services giant has outperformed major players like Petrobras, Itaú, and Walmart Mexico. This remarkable feat was achieved through Mercado Libre’s stellar performance in the second quarter of the year, leading to a notable 10.59% increase in its shares and establishing it as the only ADRs with impressive yields on Wall Street.

In its recent financial report, Mercado Libre showcased a substantial 42% growth in sales and an impressive 103% surge in net income, totaling US$531 million. Surpassing market estimates, the company’s net income reached US$5.1 billion in the second quarter, demonstrating its strong financial standing. Additionally, its fintech segment experienced significant growth, with a 36% year-on-year increase in total payment volume (TPV). On the logistics front, Mercado Libre successfully shipped 416 million items in the second quarter, marking a notable 30% improvement from the previous year.

As Mercado Libre celebrated its 25th anniversary, Galperín expressed his pride and satisfaction in the company’s journey, stating, “We had to do it… and we did it.” With a team of 60,000 employees, Mercado Libre initially started as an online platform for buying and selling products before venturing into financial services with offerings like the popular virtual wallet, Mercado Pago, widely used in Argentina and Uruguay. With a user base of 52 million active users in its fintech division, Mercado Libre continues to revolutionize e-commerce and financial services in Latin America.

As Mercado Libre continues to soar to new heights and redefine the business landscape in Latin America, its unwavering commitment to innovation and excellence solidifies its position as a trailblazer in the industry. This remarkable success story serves as a testament to the power of vision, dedication, and strategic execution in driving business growth and creating lasting impact.