Is Sea Limited Getting Ready to Challenge MercadoLibre?
Sea Limited's (NYSE: SE) Shopee, the e-commerce leader in Southeast Asia, is mulling an expansion of its operations in Brazil, according to a recent Reuters report. Shopee initially launched a small division in Brazil in 2019 to test out the market, but it is now reportedly recruiting dozens of employees to expand the business.
An expansion would be a bold move against MercadoLibre (NASDAQ: MELI), the largest e-commerce company in Latin America. But can Shopee possibly succeed in Brazil while many other challengers, including Amazon (NASDAQ: AMZN), have struggled to gain ground against the market leader?
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Source Fool.com
