MercadoLibre, BigCommerce Ally To Boost U.S. Sales to Latin America
Jul 20 2021, 8:13 PM
July 20 2021, 5:20 PM
July 20 2021, 8:13 PM
(Bloomberg) MercadoLibre Inc., the Latin American e-commerce giant, is partnering with Texas-based BigCommerce Holdings Inc. to give the online-shopping software-makerâs web merchants access to a new region.
(Bloomberg) MercadoLibre Inc., the Latin American e-commerce giant, is partnering with Texas-based BigCommerce Holdings Inc. to give the online-shopping software-makerâs web merchants access to a new region.
BigCommerce, which helps brands like Skullcandy sell on their own websites, in online marketplaces and through social-media platforms, will offer its 60,000 vendors access to what has become the worldâs fastest-growing e-commerce market. For Buenos Aires-based MercadoLibre Latin Americaâs second-biggest company by market value the partnership bolsters its efforts to increase cross-border trade.
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UPDATE 1-Latam e-commerce giant MercadoLibre s loss widens on higher taxes Reuters 5/5/2021
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May 5 (Reuters) - MercadoLibre Inc posted a larger quarterly loss on Wednesday, hit by a higher tax bill and weak margins, as the Argentine e-commerce giant boosts spending to respond to a surge in online shopping and digital payments in Latin America.
The company has been increasing investment in key areas including warehouses and fintech services as it battles competitors such as Amazon.com Inc in a rapidly growing market where many shoppers are still unaccustomed to spending money online.
Its income tax expense swelled to $43.5 million in the first quarter ended March 31, from $4.4 million a year earlier, while its gross profit margin shrunk by about 5% to 42.9%.