Sorry Bezos, Brazil Already Has an Amazon. It's MercadoLibre - Bloomberg (2019)

When Amazon.com Inc. announced it was rolling out its popular Prime delivery subscription service in Brazil last month, shares of  local e-commerce competitors tanked. Investors also got jittery in 2017, when the world’s largest online retailer launched a marketplace to sell electronics. In both cases, the shares recovered quickly once investors reminded themselves of a durable truth about Brazilian e-commerce: Local firms have a firm grip on the market and are in little danger of succumbing to the American interloper.