Mercado Libre to invest $420Mn in Mexico targeting rival Amazon

Latin American e-commerce giant Mercado Libre will invest $420 million in Mexico in 2020, as part of its continuing battle with to gain a larger slice of the country’s lucrative online retailing market. The online retailer, which is based in Buenos Aires, Argentina, has invested more than $1 billion in expansion efforts in Mexico since 2017 to compete with other online retailers.

Source: Benzinga