June 12, 2024

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MercadoLibre Joins Argentina’s “Thousand Rhinoceros” as Contributor by EFE

© Reuters. MercadoLibre Joins Argentine “Rhinoceros” Alf as Contributor

Buenos Aires, August 18 (EFE). Argentine multinational e-commerce and financial services company free market (NASDAQ 🙂 announced Wednesday that it has agreed to join Alef as a shareholder, an Argentinian-origin company for services oriented to digital media advertising.

In a statement, MercadoLibre said it has acquired a $25 million stake in Aleph, the global partner for the world’s major digital platforms, such as Twitter, Spotify (NYSE:), Snapchat, LinkedIn, TikTok, and Facebook (NASDAQ :), among others. ..

In addition, according to the statement, MercadoLibre has signed an agreement with IMS, an Aleph subsidiary operating in Latin America, to “monetise ad space in MercadoLibre’s digital property” in those countries where the e-commerce and fintech company does not own. local sales.

MercadoLibre and Aleph will also partner to explore new business development opportunities for the digital advertising industry.

“We are excited to support the growth of Alef in the global advertising ecosystem. We know the huge potential of online advertising and I am sure that this strategic investment and synergy between the two companies will further improve the development of digital advertising at MercadoLibre,” said Markus Galperin, CEO and Founder of MercadoLibre.

With a value of $2000 million, Thousand is one of the “unicorns” — those with a value exceeding $1,000 million — set up in Argentina, a selection of dozens of companies born in the South American country led by the same company. free market.

Recently, CVC Capital Partners Fund VIII acquired a minority stake in A for $470 million.

“It is an honor to have MercadoLibre as a shareholder. This is a clear endorsement of the growth that Aleph is waiting for to make our global vision a reality: digital platforms can spark economic development and that there must be equal access to digital advertising around the world,” said Gaston. Tartuta, founder and CEO of Alf.

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The two companies indicated that they expect to close the deal announced on Wednesday, which is subject to the preparation of final documents, at the end of August.

Aleph operates in nearly 90 countries and connects key players in the digital ecosystem to advertising brands through the services it provides through IMS, Httpool, WISE.BLUE, Social Snack, Ad Dynamo and Connect Ads.

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