MercadoLibre (MELI) is looking to raise its investment in Brazil to 34 billion reais ($5.75 billion) in 2025, up almost 48% from 2024, multiple media outlets reported Monday, citing a statement by the company.
The investment will be focused on logistics, technology and marketing, and the company will hire an additional 14,000 employees, according to the reports.
More than half of the e-commerce firm's revenue in 2024 was generated in Brazil.
MercadoLibre didn't immediately respond to a request for comment from MT Newswires.
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