Caso de estudio mercado libre

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  • Publicado : 16 de agosto de 2010
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MercadoLibre: the leading e-commerce ecosystem in Latin America

STRICTLY PRIVATE AND CONFIDENTIAL

Agenda

Introduction to MercadoLibre

Industry Overview

MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAM

MERCADOLIBRE

1

Four business units that create a powerful ecosystem that strives to enable ecommerce wherever it occurs
On platform
Marketplaces

MercadoLibre •Transactional marketplace • Classifieds marketplace • Search results positioning

MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAM

Payments Advertising

MercadoClics • Search advertising • Display advertising

MercadoPago • Payments processing • Consumer finance

Off platform

Webstores

MercadoShops • SaaS web stores On platform

MERCADOLIBRE

Off platform Both on and offplatform

2

MercadoLibre timeline
MercadoLibre’s history

Acquired Tucarro.com and Tuinmueble.com

MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAM

Acquired Lokau

Expanded business model

Services, e-shops and user guides content

Acquired the operations of DeRemate that it didn’t own

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009Launched

eBay acquired 19.5% of ML for iBazar Brazil

227% net revenues growth— regional leadership

Break even. Acquired DeRemate subs

IPO US$333mm

Launch search advertising and web stores

Source: Company

MERCADOLIBRE

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Company currently has a market cap of roughly $2.2B
MELI stock performance since IPO

MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAMSource: Bloomberg As of April 9 2010

MERCADOLIBRE

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Marketplace: enabling buyers and sellers to transact

 Transactional platform

Revenue Sources

 Classifieds / Listing  Search result positioning

 74% of total company revenues during 2009

MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAM

Size and Growth

 42.6mm registered users (37% 5-yr CAGR)  US$2.7bn GMV (46%5-yr CAGR)

 35mm searches/weekday  100% on platform

Business Segment Characterization

 95% fixed price (5% auction)  75% new items (20% used)  Strength in both enterprise marketplace and C2C  Infinite inventory  Top notch search engine  Back-ended pricing

Key Elements of Strategy

 Expand into new verticals

Key Initiatives

 Move towards back-ended pricing  Focus onever improving buyer experience

MERCADOLIBRE

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MercadoLibre’s key metrics –Marketplace
Successful items sold (mm) GMVe (US$mm)

8.0 5.1 5.6 5.8 6.0 6.9

8.6 516 590 652 524 521

791

787

4.6

450

MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAM

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q094Q09

Marketplace revenue and take rate (US$mm; %)
Marketplace revenue (US$mm) Marketplace take rate

40 35 30 25 20 15 10 5 0

6.0% 37 28 23 32 26 26 31 35 5.5% 5.0% 4.5% 4.0% 3.5% 3.0% 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

Source: company filings

MERCADOLIBRE

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Payments: becoming the online payment standard

 Payment processing

Revenue Sources

 Financing
 Merchantservices

 26% of total company revenues for 2009
MERCADOLIBRE: THE LEADING INTERNET ECOSYSTEM IN LATAM

Size and Growth

 US$382.5mm TPV (18% of GMV, 77% 5yr-CAGR)  3.1mm payments processed

Business Sector Characterization

 Mainly on platform (today)  60% financed payments  Recently launched off platform payments in Argentina and Brazil

Key Elements of Strategy

Increase penetration in marketplace (on platform)  Merchant services: enable third party payments (off platform)  Expand consumer credit offering

 Platform enhancement (ease of use and efficiency)

Key Initiatives

 Facilitate payment (direct payment solution)

 Seamless integration into third party websites

MERCADOLIBRE

7

MercadoLibre’s key metrics –Payments
Number of payment...
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