RIO DE JANEIRO, BRAZIL - Buenos Aires-based Mercado Libre announced on Monday, March 1st, that it will invest R$10 (US$1.75) billion in Brazil in 2021 to make its mark in its main market, seeing Latin America as the fastest growing e-commerce region in the world.
The amount, equivalent to that invested by the company in the country over the past four years, was disclosed in the wake of explosive growth in operations in the fourth quarter and comes after announcements of rival billionaire investments, including from US-based Amazon in the country.
Mercado Libre's revenues . . .