FREE MARKET DOESN'T STOP GROWING AND MAKES A MILLIONAIRE BET IN ALL REGIONS

 Mercado libre hosts great strength and does not stop growing

Mercado Libre, the largest unicorn born in Argentina, will invest US$ 3.44 billion in Brazil this year.

The announced number is 70% more than the previous year and is part of its strategy to grow and consolidate its business in the neighboring country, which is its main source of income.

The e-commerce giant explained in a statement that a "significant" part of the amount announced in Brazil will be invested in expanding the operations of Mercado Pago, the group's fintech.

According to the latest balance, presented at the beginning of this year, more than 55% of MercadoLibre's revenues were generated in Brazil: US$ 3.91 billion, 78.2% more than in the previous year.

Founded in 1999, MercadoLibre is the largest email company in Latin America. Present in 18 countries in the region, its shares have been listed on the New York Stock Exchange since 2007. With a market capitalization that exceeded US$100 billion a year ago, today it exceeds US$61 billion. It is the most valuable Argentine company in the world.

In February, the company also announced that it would also increase its investments in Mexico, to US$ 1,475 million. Aztec was its strongest growing market last year.

In the fourth quarter of 2021, MercadoLibre generated US$1.12 billion in net income in Brazil, compared to US$720.6 million a year earlier. That represents an annual growth of 56 percent.

Overall, MELI has amassed a unique fintech asset base of 51 million, provided loans of more than $3.8 billion, and issued more than 1 million insurance policies.