Seeking Alpha

MercadoLibre buys two real estate sites for $40M

  • MercadoLibre (MELI +7.4%) has bought VMK, owner of Chilean real estate site portalinmobiliario.com and Mexican real estate site Guiadinmuebles.com for $40M in cash. $5M of the acquisition priced is tied to performance milestones.
  • CEO Marcos Galperin says Mercado, Latin America's dominant e-commerce marketplace, is looking to expand into "categories that require distinct price models, distinct types of navigation and special adaptations." He sees real estate as a natural fit for the effort.
  • Mercado joined a number of other momentum stocks in flying higher today.
Comments (1)
  • PioneerTraining
    , contributor
    Comments (14) | Send Message
     
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    1 May, 03:15 AM Reply Like
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