Nasdaq announced on June 9 that Mercado Libre (Nasdaq:MELI) will become a component of the NASDAQ-100 Index® and the NASDAQ-100 Equal Weighted Index prior to market open on June 19, replacing Yahoo! Inc., marking yet another historic milestone for some of Endeavor’s earliest selected entrepreneurs.
The Nasdaq-100 Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. Just recently, Mercado Libre’s market value surpassed $10 billion, becoming the first Endeavor “decacorn.” And in 2007, Mercado Libre also became Endeavor’s first US IPO when it went public on the NASDAQ.
Co-founded by Endeavor Entrepreneurs Nicolas Szekasy, Hernán Kazah and Marcos Galperin, MercadoLibre.com was selected as one of Endeavor’s earliest companies in 1999. Immersed in the culture of Silicon Valley, Marcos and co-founder Hernán Kazah developed a passion for the internet while attending business school. Both entrepreneurial by nature, the pair decided to team up to found an eBay-style site in Argentina, emphasizing local content to outperform its competitors.
The entrepreneurs received a number of Endeavor services in their early stages, including placement with the eMBA Program, financial consulting, and connections with eBay, which acquired a stake in the company in 2002. Subsequently, Nicolas, Hernán and Marcos have fulfilled Endeavor’s model by giving back to the organization, serving on Global Advisory Boards and as panelists and mentors.
Today, Mercado Libre is a dominant player in Latin America with sites across 12 countries — including Argentina, Mexico, Brazil, where Endeavor made key introductions — and is owned in part by eBay, a deal that Endeavor helped Mercado Libre negotiate.
Read Nasdaq’s announcement of the transition here.