Latin American online auction site MercadoLibre.com
launched its U.S. operation, tailored to the U.S. Hispanic community.
After penetrating five key Latin American markets with country-specific
sites, MercadoLibre is taking aim at the U.S. Hispanic online audience using
a consumer advertising campaign, its proprietary technology and strategic
alliances with companies such as StarMedia.
MercadoLibre offers a forum for U.S. Hispanic consumers to trade with each
other and to purchase items from U.S. businesses and U.S.-based Latin
American importers.
“With a click of a mouse, Hispanics in the U.S. can easily buy and sell
typical auction items such as electronics and collectibles as well as
hard-to-find items from their native countries,” said Marcos Galperin, chief executive officer of
MercadoLibre.
“Whether it is dulce de leche from Argentina, silver jewelry
from Mexico or a signed Brazilian World Cup soccer jersey, MercadoLibre
brings a virtual Latin American marketplace to the U.S.”
In the past seven months, MercadoLibre has launched sites in Argentina,
Brazil, Mexico, Uruguay and Chile, registering more than 25,000 transactions
worth more than $7.5 million. The company said it expects a higher volume of
online transactions in the United States due to the greater Internet
penetration.
MercadoLibre lets consumers buy and sell in more than 20 product categories
and includes item descriptions and photos, customer reviews and search
functions.
In September of 1999 MercadoLibre closed a round of financing for $7.6
million with Chase Capital Partners, Flatiron Partners and Hicks, Muse, Tate
and Furst.
