categories
HOT TOPICS
- The Startup Velocity Question
- Platform as a Service
- Man and Superman
- Web 3.0 = (4C + P + VS)
- The Future: End of Capitalism
- Capitalism 2.0
eBay of Latin America: Mercado Libre CEO Marcos Galperin (Part 6)
SM: So you grew well through 2006, and in 2007 you went public. How was the IPO received in the investor community? MG: Very well. The stock went up quite a bit. We were quite unlucky in that we did our road show in the middle of the sub prime crisis. The day we priced,
In France, Failure Sucks
We have had some discussions in the past here about how Silicon Valley’s success owes itself to the fact that risk-taking is encouraged here, and failure is not a stigma that you have to carry throughout your career. I recently attended a roundtable at Stanford with a delegation from France, where this topic came up
eBay of Latin America: Mercado Libre CEO Marcos Galperin (Part 5)
SM: What was Internet adoption like in 2003? MG: I do not remember year by year. I think the evolution was somewhere around 10% per year. SM: What type of revenues were you seeing in 2003? MG: I believe we had $4M in 2003. I would have to check that number, but 2006 was $52M,
eBay of Latin America: Mercado Libre CEO Marcos Galperin (Part 4)
SM: What was your platform in those early days – an auction platform or a fixed price platform? MG: It was completely an auction platform, and today it is 90% a fixed priced platform. Another thing we did different is that we did not like the Buy It Now feature on eBay. We used it
eBay of Latin America: Mercado Libre CEO Marcos Galperin (Part 3)
SM: Having just 3% Internet penetration must have been very frustrating! MG: Exactly! We tried to focus more on milestones which were operational but not necessarily revenue. We still remember the first time someone came and paid their bill at the office. We still have the PDF of the scanned check. We tried to focus
eBay of Latin America: Mercado Libre CEO Marcos Galperin (Part 2)
SM: Did you get the sense that eBay was not focused on Latin America at all yet? What was the Latin America Internet market at the time? What kind of Internet penetration? MG: It was very small. There was 3% penetration roughly. Today it is 20%, so it still can grow a lot. Out of
Angel Investing: The Impact of Participation
Laura Roden drew my attention yesterday at a meeting of French delegates at Stanford to a Kauffman Foundation study on Angel investing. In most countries that are attempting to put an entrepreneurial ecosystem in place, Angels are an important piece of the equation. We have discussed this in detail in the context of India. Here
eBay of Latin America: Mercado Libre CEO Marcos Galperin (Part 1)
I did this interview in Buenos Aires, Argentina, during my recent trip consulting with Mercado Libre, Latin America’s largest online marketplace. I found the story fascinating, and wanted to capture it for my readers all over the world. SM: I would like to hear the story of how you built Mercado Libre. Let’s start with