Mercado Libre, the largest Latin American e-commerce and payments company, announced on Wednesday an agreement to become a shareholder of the Aleph Group by acquiring a $25 million stake in the digital media company, which operates in Latin America through Internet Media Services (IMS).
Furthermore, Mercado Libre will collaborate with IMS Internet Media Services in the monetization of advertising, on Mercado Libre‘s digital assets, in countries where there is no local sales operation. The two companies will also partner to explore and collaborate on new business development opportunities in digital advertising.
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Recently, CVC Capital Partners Fund VIII acquired a minority stake in Aleph for $470 million, valuing the company at $2 billion.
Aleph operates in more than 90 markets worldwide, aiming to connect the largest digital media players with advertisers. Exclusive partners include Twitter, Spotify, Snapchat, LinkedIn, TikTok and Facebook.
Translated by LABS