MercadoLibre, Inc. acquired unknown majority stake in Kangu Tecnologia Ltda.
August 24, 2021
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MercadoLibre, Inc. (NasdaqGS:MELI) acquired unknown majority stake in Kangu Tecnologia Ltda on August 25, 2021.
MercadoLibre, Inc. (NasdaqGS:MELI) completed the acquisition of unknown majority stake in Kangu Tecnologia Ltda on August 25, 2021.
MercadoLibre, Inc. is the leading online marketplace in Latin America. The group operates an IT platform enabling individuals and professionals to carry out their purchasing and selling transactions for goods and services. The activity is organized around 5 areas:
- operation of online trading platforms;
- online payment services: services provided through the MercadoPago platform;
- shipping services: services provided through the MercadoEnvios platform;
- development of classified ad sites;
- other: e-commerce software development, advertising services, etc.
Net sales are distributed geographically as follows: Brazil (53.8%), Argentina (23.7%), Mexico (17.7%) and other (4.8%).