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MERCADOLIBRE, INC.

(MELI)
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BigCommerce : and Mercado Libre Partner to Power Cross-Border Ecommerce Growth

07/20/2021 | 08:03am EDT

Mercado Libre’s first partnership with a major ecommerce platform opens Latin American markets to BigCommerce merchants

BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established brands, today announced a partnership with Mercado Libre (Nasdaq: MELI), the leading ecommerce marketplace in Latin America, to give BigCommerce merchants the ability to sell across Latin America to nearly 133 million unique consumers on Mercado Libre’s Marketplace. It also marks Mercado Libre’s first partnership with a major North American ecommerce platform and complements the company’s recent expansion into the United States.

“We are always looking for ways to better serve our customers, and this partnership gives them access to an entirely new variety of products from BigCommerce merchants,” said Jose Luis Hervás Fernández, director of Cross Border Trade for Mercado Libre LATAM (Mexico, Brazil, Argentina, Chile, Colombia). “As ecommerce continues to expand in Latin America, choosing BigCommerce as our first major platform partner is important for our long-term strategy and gives storeowners access to this fast-growing market.”

BigCommerce merchants can find Mercado Libre via the BigCommerce Channel Manager and quickly apply for approval to start selling into the Latin America region. Key benefits include:

  • Sell with confidence in a new market. Through free currency conversions and language translations provided by Mercado Libre, merchants can focus on selling their products knowing they'll deliver a superior online shopping experience for their customers.
  • Simple Onboarding. All new merchants are provided with a personal BigCommerce Key Account Manager to ease the onboarding process, and support business needs every step of the way.
  • Efficiently manage order flow. Through an integration with BigCommerce Preferred Partner CedCommerce, merchants can automatically sync product listings and centrally manage orders from within BigCommerce.

Latin America was one of the world’s fastest growing ecommerce markets in the world last year, and Mercado Libre – which sells in 18 Latin American countries and has global selling operations active in Argentina, Brazil, Chile, Colombia, Venezuela, Peru and Mexico – is forecasted to account for one-quarter of all ecommerce sales in Latin America by the end of 2021.

“Between shipping challenges, currency conversion and language barriers, cross-border ecommerce can be incredibly challenging for retailers to navigate, especially small and mid-sized merchants, to capitalize on,” said Russell Klein, chief commercial officer at BigCommerce. “Latin America represents a huge untapped market for U.S. merchants and BigCommerce’s partnership with Mercado Libre removes these barriers, opening the door to an expansive opportunity for them to reach millions of consumers to sell to.”

To learn more about the partnership or to sell on the Mercado Libre Marketplace, merchants can visit bigcommerce.com/essentials/mercado-libre.

About Mercado Libre

Founded in 1999, Mercado Libre is Latin America's leading e-commerce technology company. Through its primary platforms, Mercado Libre.com and Mercado Pago.com, provides solutions to individuals and companies buying, selling, advertising, and paying for goods and services online.

Mercado Libre.com serves millions of users and creates a market for a wide variety of goods and services in an easy, safe, and efficient way. The site is among the top 30 in the world in terms of page views and is the leading retail platform in unique visitors in the major countries in which it operates according to metrics provided by comScore Networks. The Company is listed on NASDAQ (Nasdaq: MELI) following its initial public offering in 2007.

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. As a leading open SaaS solution, BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2B and B2C companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Sony and Vodafone. Headquartered in Austin, BigCommerce has offices in San Francisco, Sydney and London. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.


© Business Wire 2021
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Financials (USD)
Sales 2021 6 754 M - -
Net income 2021 120 M - -
Net cash 2021 852 M - -
P/E ratio 2021 666x
Yield 2021 0,00%
Capitalization 93 370 M 93 370 M -
EV / Sales 2021 13,7x
EV / Sales 2022 9,93x
Nbr of Employees 15 546
Free-Float 91,7%
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Number of Analysts 25
Last Close Price 1 878,23 $
Average target price 2 069,17 $
Spread / Average Target 10,2%
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Managers and Directors
Marcos Eduardo Galperin Chairman, President & Chief Executive Officer
Pedro Arnt Chief Financial Officer & Executive Vice President
Daniel Rabinovich Chief Operating Officer & Executive Vice President
Emiliano Calemzuk Lead Independent Director
Mario Eduardo Vázquez Independent Director
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