According to Reuters.com, the lockdown increased the number of smaller vendors searching for digital platforms such as MercadoLibre to continue selling their products and preserve cash flow. Therefore, the company has hired 200 direct employees and 2,500 third-party contractors since the second half of March 2020 to strengthen its logistics team and cope with a higher volume of deliveries. As a result, the company announced an increasing number of consumers shopping online in April 2020.
Besides, the company’s net revenue grew by 37.6%, in the first quarter, compared to 2019’s USD 652 million. Only in Brazil, which accounts for 61% of the total, its net revenue climbed by 31.4% in US dollar terms and 55% in Brazilian real terms year-on-year, Reuters stated.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.