Mercado Libre will create 4,700 new jobs and invest 22,200 million pesos in Mexico this 2021

As a result of the online shopping boom, Mercado Libre will double its workforce in Latin America and invest more than in the last four years in Mexico.

If you are looking for a job , Mercado Libre has good news for you. The e-commerce giant in Latin America plans to invest 1,100 million dollars in Mexico , that is, about 22,200 million Mexican pesos . Part of the sum is destined to create about 4,700 new jobs in the country.

Like other e-commerce companies , Mercado Libre has grown exponentially during the Covid-19 pandemic . To meet growing user demand, the Buenos Aires, Argentina-based company plans to double its workforce throughout the region.

The increase in online shopping is the result of closures and confinements imposed to contain contagions. The growth caused Mercado Libre's share price to double over the past year, reaching a record market value of around $ 100 billion last January.

The company raised about $ 1.1 billion this year from the sale of bonds. In addition, it does not plan any additional capital increase for the hiring, said Sebastián Fernández Silva, chief people officer of Mercado Libre, as quoted by El Financiero . That same amount will serve to strengthen its presence in Mexican territory.

This is an investment higher than what they have injected in the last four years as a whole and will serve to double the capacity of the company's storage units , strengthen the logistics network and increase its offer of financial technology , said David Geisen in a videoconference. , company manager for Mexico.

"There is a lot of growth and a lot of demand, not only from the consumer side, but also from small and medium-sized companies that want to send more products to our distribution centers," Geisen said.

The figure represents an increase of 161.9% compared to the 420 million that the company invested in 2020. In addition, the company plans to close the year with a workforce of 32,000 employees , compared to the 15,500 they had at the end of 2020.

Brazil is Mercado Libre's largest market, while Mexico surpassed Argentina as the second largest in the fourth quarter, surpassing $ 1 billion in quarterly gross merchandise volume.

Geisen indicated that in 2020 the e-commerce platform grew by 120% and more than 100 million items were sold. 50% of the sales of SMEs were made through Mercado Libre and 50 thousand firms of this type were added.

Its FinTech division, Mercado Pago , also registered a 448% growth in the number of operations compared to 2020, while QR code payments through cell phones increased more than 500%. The manager also highlighted an increase in credit lines, granting more than 4 million of these to its consumers.

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