Latest news with #Meli
Yahoo
23-05-2025
- Business
- Yahoo
Mercado Libre, Amazon of South America, announces leadership transition
The founder and CEO of Mercado Libre, an online marketplace often described as the Amazon of South America, has decided to call it quits after 26 years. In a letter to employees publicly released late Wednesday, Marcos Galperin said he will hand over his position to Ariel Szarfsztejn, the current president of commerce, on Jan. 1 and take on the role of executive chairman. Galperin said he will remain closely involved at Meli (NASDAQ: MELI), the company's shorthand name, focusing on strategy, product development, culture, capital allocation, special projects and how to apply artificial intelligence to the business. Szarfsztejn joined Latin America's dominant e-commerce platform in 2017 and led development of the company's logistics network throughout the region. For the past three years he has led the consumer-facing marketplace. Previously, he held executive positions in the hotel industry, and also worked at The Boston Consulting Group and Goldman Sachs.'This is a generational change, and I know that Ari, along with the talented team that has supported me, has everything it needs to ensure Meli continues to grow strongly in the coming decades, continuing our mission to democratize e-commerce and financial services in the region,' Galperin wrote. 'I'm proud to have created Meli, written its business plan in college, hired a formidable team – many of whom remain with me to this day – and, together with them and many others who joined, grown this company, achieved profitability, IPO'd on the Nasdaq, added millions of users, launched new products, adapted to technological changes, built and developed the largest technology team in Latin America, the largest e-commerce logistics network, became the company with the highest market valuation in the region, and, above all . . . helping hundreds of millions of people live better lives,' he said in the letter. Mercado Libre started as an online auction website where individuals traded used items among themselves and it took six years for it to break even. It originally employed drop shipping using the major carriers in Latin America and today has more than 25 fulfillment centers across the region, hundreds of service centers, the largest fleet of electric vehicles in Latin America, conventional-fuel trucks and vans, and six Boeing 737-800 converted freighter aircraft operated by Brazilian airline Gol. Galperin said now is a good time for a leadership transition because Mercado Libre has a strong financial and market Libre's net revenue in 2024 increased 38% year over year to $21 billion, contributing to operating income of $2.6 billion and margin of 12.7%. The total value of merchandise sold in 2024 reached $51.5 billion, up 15% YoY. The company said it surpassed 100 million annual unique buyers on the marketplace for the first time, with a 24% in buyers compared to 2023, demonstrating higher engagement and shopping frequency as a result of continuous investment in the user interface, assortment and logistics. Mercado Libre has the largest logistics infrastructure in Latin America, which has enabled it to offer fast-shipping throughout the region. During the year, Mercado Libre opened 10 new fulfillment centers, invested $500 million for capital expenditures in logistics and expanded its free shipping offering. It handled 1.8 billion items, with 49% of deliveries completed the same day or next day, which is considered a strong performance level for a region where transportation infrastructure is not fully developed. Seventy percent of orders are delivered within 48 hours. The increased scale of the logistics network has improved delivery efficiency, according to the company. While delivery speed is a priority, Mercado Libre is also making its network more flexible so it can offer slower, more economical, options. In a company podcast in March, CFO Martin de los Santos said Mercado Libre will continue to invest at a similar pace and expects to open several fulfillment centers in Brazil. The e-tailer will also add warehouses in Mexico, where its infrastructure is operating almost at full capacity, to keep up with the 30% year-over-year growth of gross merchandise value. The momentum continued in the first quarter, with sales up 37% to $5.9 billion versus the same period last year and operating income up 45% to $763 million. E-commerce represents 15% of total retail sales in Latin America, compared to about 16% in the United States. Third-party forecasts point to the market growing by 54%, from $151 billion in 2023, to $232 billion by 2028. With less than 5% share of the total retail market, Mercado Libre officials say they see plenty of runway to grow. Click here for more FreightWaves/American Shipper stories by Eric considers universal de minimis ban as fees on China parcels ease The post Mercado Libre, Amazon of South America, announces leadership transition appeared first on FreightWaves. 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Local Germany
09-05-2025
- Local Germany
Five German cities ranked among the 'unfriendliest in the world'
From world-class companies to a high quality of life, Germany has a lot to offer foreigners - but when it comes to that local warmth and friendliness, there seems to be a lot left to be desired. In the latest Expat City Ranking 2024 by InterNations, five major German cities have won an unenviable accolade, being ranked among the world's 10 least welcoming cities. According to the survey's international respondents, the Bavarian capital of Munich should be crowned the least friendly city in the world, followed by three other German cities that make up the top four. The ranking, based on responses from more than 12,000 people living abroad worldwide, evaluates how easy it is to settle into life abroad. One of the key measures is the "Ease of Settling In Index", which includes indicators such as local friendliness, feeling at home, and how easy it is to build a social life. Unfortunately for Germany's metropoles, they scored particularly poorly across the board. Munich: No Bavarian hospitality for newcomers Despite its stunning scenery and the beer-guzzling antics of Oktoberfest , Munich stands out in the rankings as the least friendly city for foreigners, landing in 53rd place. The Bavarian capital received the lowest marks for local friendliness, with nearly half of respondents rating locals as unfriendly. Many of the respondents also reported problems in building an active social life: 65 percent said they found it hard to make friends, and only 37 percent said they were satisfied with their current social circle. In a survey of Munich residents conducted by The Local a few years ago, readers also described locals in the Bavarian capital as a little too cool and reserved. Visitors to the Luitpold Hill in Munich enjoy the view of the Frauenkirche and the snow-covered Alps in the distance. Photo: picture alliance/dpa | Peter Kneffel "It is too expensive and boring and its inhabitants are quite unfriendly," said reader Meli, while other readers alternately described the locals as "closed-off", "conservative" and "rude". READ ALSO: 'World's largest village' - How foreigners in Germany feel about Munich These views were echoed in the InterNations survey. 'It's difficult to form genuine connections with locals,' reported one Italian living in the city. Others noted that the famed Bavarian Gemütlichkeit (cosiness or warmth) seems reserved for long-time residents, rather than new arrivals. Hamburg: Cold weather and even colder people The northern port city of Hamburg fared only slightly better than Munich, landing in 52nd place out of 53. While a vibrant cultural scene and walkable city centre can be attractive to international newcomers, it seems many are disappointment by the welcome they receive. According to the InterNations survey, just 42 percent of foreigners found locals friendly - well below the global average of 63 percent. Even more concerning, almost half (44 percent) said they didn't feel at home in the city, with many struggling to settle in. This impression was backed up by a recent survey carried out by The Local , in which readers praised Hamburg's top-class infrastructure and attractions, but lamented the unfriendliness of the locals. Advertisement 'It is hard to enter social circles and make friends with locals," explained 43-year-old Dannis, who grew up in Hamburg but later moved away. "Almost everyone stays within their established closed social circles." READ ALSO: 'Beautiful city, unfriendly people' - How foreigners feel about living in Hamburg Similar perspectives were espoused in the InterNations report. 'The locals are cold and not very welcoming toward foreigners,' said one Hamburg resident from Spain. In the category of 'feeling welcome,' Hamburg ranked last worldwide. Berlin: Social isolation in the midst of a hip city Contrary to its reputation as a liberal, diverse, and international city, the German capital ranked 51st in the InterNations when it came to the ease of settling in. In particular, respondents to the InterNations survey were put off by the gruff exterior of the locals, describing Berliners as "unfriendly and hard to approach". Though in Germany the famed Berliner Schnauze (Berlin snout) is associated with a gritty humour as opposed to straight-up rudeness, it seems these cultural quirks can be difficult to translate. People walk on Berlin's Tempelhofer Feld. Photo: picture alliance/dpa | Sebastian Gollnow In fact, the city came bottom of the rankings for 'friendliness of locals', landing in a depressing 53rd place. Despite its buzzing party scene, foreigners saw Luft nach Oben (room for improvement) when it came to Berlin's social offering as well: 64 percent reported difficulties in making friends, while many lacked a sense of feeling at home. 'Berlin may be exciting, but you're mostly on your own socially,' one respondent said. READ ALSO: Why is Berlin a lonely city for many foreign residents? Frankfurt: Thriving economy and a lacklustre social life Hesse's financial capital was also presented in an unflattering light when it came to local friendliness, landing in 50th place out of 53. Though Frankfurt is one of Germany's most international cities, it seems to present few opportunities to integrate fully with the locals. In the InterNations survey, foreigners cited difficulty adapting to the local culture and forming friendships as two of the biggest issues they faced. Just 38 percent said they felt at home, and most described their social networks as dominated by fellow expats. Advertisement 'People here are polite but distant," said one British respondent. "It's hard to go beyond small talk." Despite the high salaries and job opportunities, many said they felt isolated outside of work. Cologne: No Carnival spirit for most of the year A surprising addition to the rankings this year was the Rhineland city of Cologne, which is often seen as a laid-back, fun-loving and open place to live. Though its colourful carnival celebrations see visitors flocking to the city from far and wide, the daily reality for foreigners seems to tell a different story. According to the survey, Cologne struggles with welcoming newcomers, scoring near the bottom for cultural openness and friendliness. In the Ease of Settling in, it achieved a lacklustre 48th place, making it the 6th least friendly city in the world according to foreigners. Advertisement Despite its reputation for Rheinische Fröhheit - a jolly and chatty temperament among Rhineland natives - 41 percent of expats said they found it difficult to make local friends, and many described their social lives as sub-par. One Canadian respondent summed up the situation: 'It's friendly during Carnival," they said. "But the rest of the year, it's harder to connect." READ ALSO: What to do, see and eat on a budget-friendly break in Cologne
Daily Mail
28-04-2025
- Daily Mail
Aussies CANCEL their trips to the US after tourists are subjected to terrifying act at an airport
An Australian woman has led the chorus from locals who claim they are reconsidering travelling to the United States after two tourists were strip-searched at the airport. Remi Meli said in a TikTok video she is considering canceling her planned trip to New York City in December, after hearing stories of tourists being detained. Her video comes just days after reports surfaced about two German teenagers who were detained while trying to enter Hawaii. Charlotte Pohl, 19, and Maria Lepere, 18, told a German news outlet that upon arrival at Honolulu Airport, they were subjected to full body scans and strip searches. They were then placed in a holding cell overnight before being deported back to Germany. The duo had not booked accommodation for the entirety of their trip, something that triggered a red flag for customs agents. The clip, captioned 'manifesting NYC Christmas magic, not an interrogation room', received a flurry of comments. Aussie social media users shared they had cancelled their US trip over similar concerns. 'Was meant to be going to NYC in December too, we have cancelled. The safety is a concern but also the dollar declining, it will be crazy expensive,' one person said. 'Not going to lie, you couldn't pay me to travel to the US anytime soon,' commented another. Another user referred to the Trump Administration's ongoing deportations of alleged illegal migrant criminals to a maximum-security prison in El Salvador, 'Is it truly worth the risk of an El Salvador situation?' they asked. However, others shared that they had recently traveled to the US without any issues. 'Nope, I'm still going. You gotta stop listening to social media,' one person said. 'I'm an Australian and I just travelled to NY and LA a few weeks ago and was fine,' another added. Someone else said they also weren't cancelling their plans. 'I'm leaving today. Just fear mongering. US has been strict about entry since 9/11. I can't wait to go.' they commented. Ms Meli told Daily Mail Australia she is still undecided about whether she will travel later this year. 'I made the video just sharing some genuine concerns I had about traveling to New York as an Aussie,' she said. 'I never expected it to gain so much attention, and while the responses have been really mixed,' she added, 'My intention was never to spread fear or misinformation — just to be honest about something that's been on my mind.' Ms Meli said she was surprised by the overwhelming response, particularly from women. 'It definitely made me pause and think,' she said. In the past 12 months to March this year, the number of Australians visiting the US had fallen by 8 per cent, the sharpest drop since the Covid-19 pandemic. Other countries have seen an even larger fall off, with German visitors falling by 28 per cent and the United Kingdom by 14 per cent. Jared Mondschein, director of research at the United States Studies Centre at the University of Sydney, said the decline of tourism to the US was harming its economy. He noted that although the Trump Administration's tariff agenda drew the most attention, it was the services trade that would suffer the greatest impact. 'The impact of a decline in both tourists and students is economically challenging for the United States,' he told Daily Mail Australia. He noted that while concerns over border crackdowns intensified during the Trump administration, similar actions have occurred under Democratic administrations. 'The fact that we are seeing headlines about this is not unprecedented,' he said. In 2022, under the Biden administration, Victorian student Jack Dunn was detained and deported after arriving in the US, due to issues booking a return flight home. 'I know this has happened before, and even if a Democrat were to take office in the next administration, it could happen again in the future,' Mr Mondschein said. The Australian Government's SmartTraveller website has warned Aussie tourists heading to the US to 'Exercise normal safety precautions in the USA'. It warns that 'US authorities have broad powers to decide if you're eligible to enter and may determine that you are inadmissible for any reason under US law.' And Australians are urged to 'ensure [they] understand all relevant terms and conditions before attempting to enter the United States.'
