Mercado Livre () plans to invest R $ 34 billion this year in Brazil, its main market, said the senior vice president of the Free Market and leader of the company’s marketplace operations in Brazil, Fernando Yunes, on Monday (7).
The value, which also includes certain operating expenses, is a record for the Free Market in Brazil, as the company has intensified its investments in the country in the last eight years. The value marks a 47.8% growth in contributions compared to the previous year and an exponential increase over 2018, when the free market invested $ 1 billion in Brazil.
In an event with the presence of President Luiz Inacio Lula da Silva in one of the free market distribution centers in the state of São Paulo, the executive added that the e -commerce company expects to create about 14,000 jobs in Brazil in 2025, reaching more than 50,000 employees in the country by the end of the year.
Currently, the country accounts for more than 50% of free market revenues. In a statement, the company said the funds will be directed to logistics and technology in its e-commerce and fintech businesses, as well as loyalty, entertainment, marketing and hiring programs.
Last month, the free market, whose shares are traded in New York, announced investments of US $ 3.4 billion in Mexico, its second largest market, for 2025.
