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.

From other sites
Comments (1)
  • PioneerTraining
    , contributor
    Comments (9) | Send Message
     
    This article gives the light in which we can observe the reality. This is very nice one and gives in depth information.
    1 May 2014, 03:15 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs