PayPal to invest USD 750 mln into ecommerce company MercadoLibre

Wednesday 13 March 2019 13:58 CET | News

PayPal has announced it will make a USD 750 million investment through the purchase of common stock in Argentina-based ecommerce company MercadoLibre.

The deal is part of MercadoLibres intention to offer approximately USD 1 billion of common stock. MercadoLibre also intends to grant the underwriters a thirty-day option to purchase up to USD 150 million of additional shares of common stock.

MercadoLibre allegedly intends to use the proceeds for its ecommerce platform, for strengthening its logistics infrastructure, and for investments in solutions.

Founded in 1999, MercadoLibre has six integrated ecommerce platforms including MercadoLibre, MercadoPago and MercadoEnvĂ­os.

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Keywords: PayPal, investment, ecommerce, MercadoLibre, ecommerce platform
Countries: World

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