Mercado Libre History

In March 1999, Marcos Galperin, co-founder and Executive Director, while working to obtain their MBA diploma from the School of Business at Stanford University, wrote the business plan MercadoLibre and began to form a team of professionals to put running.

MercadoLibre launched operations in Argentina in August 1999 and subsequently began operations in other countries.
In September 2001, conducted a 5-year exclusive partnership with eBay for all Latin America. eBay, the largest shopping and Internet sales in the world and the pioneer in this business, became a major shareholder and began working to provide better service to the community of Latin American users, by accessing certain skills and experience, which accelerated some aspects of development. As part of this strategic partnership, acquired at the time the Brazilian subsidiary of eBay, iBazar. This partnership ended in September 2006.

In November 2002, assumed control over strategic assets Lokau.com, a Brazilian business platform online competitor and incorporated all Lokau.com registered users on its platform.

In November 2005, acquired some operations of a regional competitor in online business, DeRemate.com Inc., including its operations in Brazil, Colombia, Ecuador, Mexico, Peru, Uruguay and Venezuela.

In August 2007, MercadoLibre, Inc. made its initial public offering on Nasdaq.
On January 22, 2008, MercadoLibre acquired 100% of CMG Classified Media Group, Inc., or CMG and its subsidiaries. CMG and its subsidiaries operate as a platform for online classifieds dedicated mainly to the sale of cars through www.tucarro.com in Venezuela, Colombia and Puerto Rico, and through www.tuinmueble.com properties in Venezuela, Colombia , Panama, United States, Costa Rica and the Canary Islands.