Marcos Galperín announced on December 31, 2025 his departure as CEO of Mercado Libre after 26 years of uninterrupted leadership. The founder who turned a startup born in a Buenos Aires garage into the most valuable company in Latin America is retiring from day-to-day operations to assume the role of executive president.
As of December 2025, Mercado Libre exceeded US$102 billion in market value and during the year it reached peaks above US$111 billion. The company left behind historical giants such as Petrobras and Vale, consolidating undisputed leadership in the region. It is also the only Latin American company included in TIME’s 100 most influential company in the world in 2025.
Ariel Szarfsztejn, an executive trained within the company, will take over as the new CEO. Galperín will focus on strategic vision, capital allocation and technological momentum, especially in artificial intelligence.
The history of the marketplace that was born in a garage
Galperín founded Mercado Libre in 1999 while pursuing his MBA at Stanford, at the time seeking to democratize commerce in Latin America. A challenge at that time because the internet was incipient in the region, banking coverage was low and there was distrust in online transactions.
The startup managed to break through the dotcom bubble thanks to early support from investors and a strategic partnership with eBay that legitimized its proposal and catalyzed its territorial penetration. It quickly established operations in virtually all Latin American markets, achieving competitive advantage before its rivals.
The turning point occurred in 2003 with Mercado Pago, designed as a response to the lack of existing payment infrastructure. This internal tool evolved to position itself as one of the main fintech players in Latin America.
How they built an entire ecosystem of services
Over two decades, Galperín orchestrated the birth of multiple business verticals that support the platform today: payment solutions, physical distribution, financing, digital marketing and content. They achieved the IPO in 2007, positioning the company as the first Argentine company listed on Nasdaq.
Mercado Libre achieved Mercado Envoys, a disruptive strategy of its own logistics capabilities; redefining regional e-commerce expectations through warehousing infrastructure, last mile distribution networks and even cargo planes under MeLi Air. This investment currently represents its main differentiator compared to international competitors.
Financial results that explain the timing of the transition
Galperín leaves the executive position amid the best economic performance in corporate history. During the third quarter of 2025, the firm recorded net sales of US$7.4 billion, representing a jump of 39% and marking the 27th consecutive quarter with expansion above 30%.
Commercial operations broke records in Brazil, Mexico and Argentina, with volumes of products sold rising 42% in the two main markets. The number of consumers reached approximately 77 million people and the total value of merchandise traded exceeded US$16.5 billion quarterly.
Mercado Pago added 72 million active monthly users while its credit portfolio expanded 83% year-on-year to US$11 billion. Its credit card dominates the Brazilian marketplace and is beginning to scale in Argentina, a country where more than 60% of adults lack banking credit.
Behind his operational retirement, a lesson
Galperín always emphasized that leading Mercado Libre requires absolute dedication throughout the year. He eventually recognized that the time had come to evolve his contribution to remain consistent with that message.
He publicly announced his decision last May through his social channels: “He has the capacity, leadership, team trust and, fundamentally, the culture necessary to guide MELI for many more years,” Galperin stated in his letter, referring to Ariel Szarfsztejn.
Objectives from the executive presidency
Under his new role, Galperín will maintain participation in major strategic definitions and investment distribution. Artificial intelligence tops its priorities. According to his perspective, these technologies are already revolutionizing areas such as user support, cost structure and legal processes.
Visualize a “personal banker” integrated into Mercado Pago: intelligence capable of projecting money flows, anticipating expenses and suggesting personalized financial movements for any economic profile. He anticipates that the current paradigm of fragmented apps could become obsolete, giving rise to new digital interaction interfaces.
With greater time availability, he could intensify his role as an angel investor and advisor. He recently participated in rounds of regional technology startups such as dLocal, NotCo, Pachama and ventures related to blockchain and machine learning. He is also a member of Endeavor Global and advises the Stanford Graduate School of Business.
