MercadoLibre was founded in 1999 to build an online marketplace in Latin America. It has since expanded to become the leading internet ecosystem in the region. It operates transactional marketplaces, payments processing services, online advertising, and web stores across most countries in Latin America. MercadoLibre has experienced strong growth, with over 50 million registered users, $3.4 billion in gross merchandise volume in 2010, and robust financial performance. It aims to continue growing by expanding into new categories and services both on and off its platform.