MercadoLibre.com

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MercadoLibre.com (literally "free market" in Spanish) is a website dedicated to online auctions. It is eBay's Latin American subsidiary. MercadoLibre is Latin America's number-one auction site. It is currently present in Argentina, Brazil, Chile, Colombia, Mexico, Ecuador, Peru, Uruguay, and Venezuela.

History

MercadoLibre was established in 1999 in Argentina and soon after in Brazil (as MercadoLivre.com), Mexico, and other Central and South American countries. It´s eBay´s exclusive partner for the region since 2001.

In November 2005, MercadoLibre acquired 8 DeRemate's operations (till then, DeRemate was MercadoLibre main competitor in the region). The acquisition includes: Brazil, Colombia, Ecuador, Mexico, Peru, Puerto Rico, Uruguay and Venezuela.

The MercadoLibre system

MercadoLibre works in the same way as eBay does: customers bid for an item, and the customer with the highest bid after a determined date wins the item. The customer must then pay before receiving the item bought or by meeting with de seller in person, they can make the transaction face to face. There are various methods of paying, such as "MercadoPago" (MercadoLibre's version of PayPal), credit cards and money orders. When sending money to a seller, the customer puts his or her trust in the seller to send the item. Once the transaction is finished, the seller and the buyer writes feedback on each other.

External links

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