Mercado Libre announces $75 million investment as Milei joins

2024-09-04 19:45:00

President Javier Miley Visit the offices of Mercado Libre this Wednesday He made a public appearance with the company’s founders in the Saavedra neighborhood of Buenos Aires, Marcos Galperinin the midst of the confrontation between the businessman and the bank.

In a post on X, the President’s Office account showed a video of the president arriving at the company’s office.

free market announced Investing US$75 million to build a new logistics center Located in La Matanza, Province of Buenos Aires.

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The company founded by Galperin will open a second logistics center that will have 56,000 square meters, Equivalent to a football field. This investment will simultaneously create 2,300 jobs.

Galperin said the investment will allow Double storage capacity, increase product processing capacity, and shorten delivery times “to the platform’s millions of users.”

“we are I’m not thinking about three or six months from now, but ten years from now. There are some sectors where e-commerce growth is strong, such as technology, but not others, such as supermarkets,” the company’s president said at a news conference.

As far as free market business presidents are concerned, Ariel Sharfsteinexplained that the investment “will allow us to develop new business while significantly increasing the number of fast and secure shipments to provide the best buying and selling experience for our millions of users.”

“Let’s continue Betting on the consolidation of e-commerce in the country, We want to be a protagonist for years to come.

The representative will end the event Speech in front of manager.

The presence of representatives has also been interpreted as Galperin’s support in battle with private banksafter reporting virtual wallets to court Way Suspected of “cartelization”.

Marcos Galperin and Javier Millay

Galperin will travel from Uruguay, where he settled after his electoral victory Alberto Fernandez In 2019, a photo was taken with Milai, a businessman who often posts praises on social networks. X.

The founder of Mercado Libre doesn’t usually give interviews, but he will show himself Be very active and express your opinions online Demonstrates a strong and forceful approach to various situational issues.

There he also typically encountered criticism from leaders close to Kirchnerism, such as social leaders and former presidential candidates. Juan Grabois.

Galperin He was also close to the management of then-President Mauricio Macri After the PRO leader defeated Alberto Fernandez, he decided to leave Argentina and settle in a neighboring country.

Model vs. free market

The liberal president’s visit comes as e-commerce giant Mercado Libre complain Before State Commission for the Protection of Competition (CNDC) against the main bank argentine prohibit, cartelization y a coordinated approach Designed to harm the fintech industry and the people who use it.

According to the complaint from the company led by Galperin, “Banks focus on MODO instead of competing with each other, limiting the possibility for users to freely choose where to operate their funds and making transfers difficult”.

Free market vs Modo

Of course, it is worth remembering that earlier in May this year, the bank denounced Mercado Libre before the same committee. “Specialized abuse of dominant position to harm the interests of consumers, businesses and other market participants”. Presented appropriately this MODO virtual walletwhich brings together major entities including Banco Nación, Banco Galicia, Banco Santander, Banco Macro, Banco BBVA and ICBCwait.

On this occasion, Galperin fires back Accused 36 Argentine banks They focus on MODO wallets rather than competing with each other.

They argued from MeLi that “Bank shares user’s banking information in MODO such as account balances and recent changes, But they won’t share this information with their fintech competitors and prevent other digital wallets from accessing their promotions,” they complained.

LT

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