In a meeting with Lula, Mercado Livre announced the generation of over 6.5 thousand jobs and an investment of BRL 23 bi in Brazil

This Monday, April 15, Mercado Livre announced the generation of over 6.5 thousand jobs and the investment of over BRL 23 billion in the country, the largest amount ever allocated by the company in its 25-year history. The announcement was made during a meeting between President Luiz Inácio Lula da Silva and the company’s CEO for Brazil, Fernando Yunes. Also attended the meeting the Vice President and Minister of Development, Industry, Trade, and Service, Geraldo Alckmin, the ministers Rui Costa (Chief of Staff), Alexandre Padilha (Institutional Relations), and Luiz Marinho (Labour), in addition to the Executive Secretary of the Minister of Finance, Dario Durrigan; the president of SEBRAE, Décio Lima; and Mercado Livre’s Senior Vice President for Legal Issues and Government Relations, Jacobo Cohen.

With this investment, there is an increase in job opportunities, in the economy, and in the Brazilian people’s purchasing power. You can count on the Federal Government"

Luiz Inácio Lula da Silva, President of the Republic

The amount will be invested in opening new Distribution Centers in Brasília, Pernambuco, and Porto Alegre. One of the goals is to improve Mercado Livre’s infrastructure, team, and logistics operation base in the country. This will result in a significant increase in the number of cities with fast delivery, same day or next day. "With this investment, there is an increase in job opportunities, in the economy, and in the Brazilian people’s purchasing power. You can count on the Federal Government", stated President Luiz Inácio Lula da Silva.

"Brasil represents around 52% of the company’s total net revenue in Latin America. Mercado Livre’s historical increase in investments in Brazil, which broke the barrier of BRL 1 billion in 2018 and now reaches up to BRL 23 billion, indicates the size of our trust in the country’s potential for development, our workers, the entrepreneurial community, and our partners," highlighted Yunes.

With one of the fastest-growing operations each year, propelled by the evolution of Mercado Pago, Brazil is set to welcome approximately 24% more developers compared to its 2023 roster. These new hires will elevate the total number of direct company collaborators to around 29,000 by the end of 2024.

In addition to financial services, the areas of logistics and technology will be absorbing most of the new professionals. The annual hiring plan foresees the arrival of 875 new workers for the technology area alone, ending the year with 4.500 dedicated professionals. The logistics area is also a highlight, with an expected hire of over 5.200 new professionals.

“Mercado Livre is a sales platform with 3.300 million sales representatives each year, and Mercado Pago is its fintech. So it ends up being the engine for entrepreneurship and formalization. In the last 2 years, over 200 thousand new CNPJs (the Brazilian companies’ taxpayer identification number) were opened by individuals operating in sales; today, over 1 million families have Mercado Livre as their main source of income”, stated Yunes.

Mercado Livre, through Mercado Pago, was also a partner for the Government’s program for debt renegotiation, Desenrola.

“25 years ago, we believed in Brasil’s potential, always with a long-term perspective that allows us to generate a continuous positive impact, shared with millions of entrepreneurs and consumers”, said Jacobo Cohen, Mercado Livre’s Senior Vice President for Legal Issues and Government Relations.

ABOUT MERCADO LIVRE — Mercado Livre is a technology company for e-commerce and financial services in Latin America. It offers solutions for individuals and companies to purchase, sell, publicize, and ship products through the Internet, in addition to solutions for payment, credit, investments, insurance, and benefit management.

Founded in 1999 and with a presence in 18 countries, Mercado Livre surpassed the mark of 58 thousand direct collaborators in the region, with over 22 thousand in Brazil alone, its main market.