SAO PAULO (Reuters) -Latin America’s largest e-commerce platform MercadoLibre announced on Monday the launch of a new business-to-business (B2B) unit, targeting corporate clients as it seeks to expand beyond its traditional consumer market.

WHY IT’S IMPORTANT

The move positions MercadoLibre to capture a share of the B2B e-commerce market, which is estimated to be four times larger than the global business-to-consumer e-commerce market by volumes sold.

BY THE NUMBERS

The company said there are over 4 million users already enabled for wholesale purchases across Latin America since it began testing the unit a year ago.

The unit is launching in Brazil, Argentina, Mexico and Chile.

KEY QUOTES

“This market is strategic for the business, as it is characterized by higher average tickets, re

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