MercadoLibre, Latan America's largest largest e-commerce marketplace, has announced the purchase of metroscubicos.com from the Grupo Expansion (GEx). Metroscubicos is one of the leading property portal sites in Mexico for searching and publishing information of sale and rental of all types of properties (houses, apartments and offices, among others).
MercadoLibre.com is the one of the largest general classifieds sites in the Latan Americans according to comScore. It has a presence in 12 countries in Latin America, Portugal and the United States, more than 120 million registered users, more than 2600 employees and is listed on the Nasdaq (NASDAQ: MELI).
"Mexico is a strategic growth of electronic commerce in Latin America market. With this investment, MercadoLibre continues to demonstrate its interest to develop and strengthen their business classifieds in the region, "said Martin Lawson VP of Classifieds in MercadoLibre.
Metroscubicos.com will continue to operate as a standalone business.
"We are excited to continue to grow in the hands of a leader such as MercadoLibre. Their knowledge and experience we will add further growth and regionalization to our business," said Simon James Dagleish, Business Manager Metroscúbicos.