MercadoLibre (MELI) is looking to raise its investment in Brazil to 34 billion reais ($5.75 billion) in 2025, up almost 48% from 2024, multiple media outlets reported Monday, citing a statement by the company.
The investment will be focused on logistics, technology and marketing, and the company will hire an additional 14,000 employees, according to the reports.
More than half of the e-commerce firm's revenue in 2024 was generated in Brazil.
MercadoLibre didn't immediately respond to a request for comment from MT Newswires.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments