Early Life
Marcos Galperin was born in Buenos Aires, Argentina, into a family with roots in the leather industry, where his family owned SADESA, one of the world's largest tanneries. He attended St. Andrew's Scots School in Olivos before studying finance and economics at the University of Pennsylvania's Wharton School. Galperin also has an MBA from Stanford Graduate School of Business, which he received in 1999. Before his career in technology, he considered playing professional rugby and worked at YPF, Argentina's state-owned oil firm.
Rise to Success
Galperin co-founded MercadoLibre in 1999 with Hernan Kazah and Stelleo Tolda, inspired by eBay. Starting with an online auction model, Galperin adapted the platform to the unique challenges of Latin America, including fragmented markets and limited banking infrastructure. The company's initial public offering on NASDAQ in 2007 marked a significant milestone, as it was the first Latin American company to be listed. Under Galperin's leadership, MercadoLibre expanded into payments (Mercado Pago), logistics, and credit services, becoming a regional powerhouse operating across multiple countries. The company has experienced consistent growth for 25 years, with a slower but steady trajectory, allowing for the development of necessary infrastructure.
Key Business Strategies
A key business strategy for MercadoLibre was pivoting away from auctions into fixed prices. Galperin and his team focused on capital allocation, product development, and business model innovation. The company also emphasized adapting to the local market needs. MercadoLibre's expansion into fintech, with services like Mercado Pago, was instrumental in driving growth and addressing the lack of payment infrastructure in the region. Galperin has also emphasized the importance of having a strong team with a long-term vision, and that has been key to the company's success.
Philanthropy
Galperin actively promotes entrepreneurship through initiatives such as financial literacy and inclusion, by providing credit to underbanked or unbanked micro, small, and medium-sized enterprises. He also supports entrepreneurs whose projects contribute to environmental, social, and economic goals. He has served on the board of Endeavor Argentina, a non-profit organization that identifies, mentors, and accelerates high-impact entrepreneurs.
