MercadoLibre Inc. (NASDAQ: MELI) the leader in the Latin American e-commerce industry has a long history with eBay Inc. (NASDAQ: EBAY). The two companies first partnered back in late 2001 after competing for a time in the region. As part of the agreement, MercadoLibre received Brazilian online trading platform iBazar and eBay acquired a 19.5% stake in MercadoLibre. Additionally, eBay agreed to “share best practices with the company”.
eBay parts ways with Latin American partner MercadoLibre. Image source: eBay.