Mercado Libre, Inc. (literally "duty free" in Spanish, known as Mercado Livery in Portuguese) is an Argentine company founded in the United States that manages online markets dedicated to e-commerce and online auctions, including mercadolibre.com. As of 2016, Mercado Libre had 174.2 million users in Latin America, making it the region's most popular e-commerce site in terms of visitor numbers. The company has operations in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Spain, Ecuador, Guatemala, Honduras, Peru, Panama, Uruguay and Venezuela. Mercado Libre was founded in 1999 in Argentina. Founder and CEO Marcus Galperin founded the company while attending Stanford University. Funded by John Moses, co-founder of HM Capital Partners. Mercado Libre received additional funding from JP Morgan Partners, Flatiron Partners, Goldman Sachs, GE Capital and Banco Santander Central Hispano. In 1999, Mercado Libra was selected as Endeavor. In September 2001, eBay bought a 19.5% stake in the company. EBay sold its stake in Mercado Libre in 2016, but the companies continue to collaborate to expand eBay vendors in Latin America. EBay opened its first branded store in The Mercado Libre market in Chile in March 2017. The following month, Mercado Libre acquired iBazar Como, the Brazilian subsidiary of eBay's previous acquisition, iBazar S.A. And in 2006, it launched MercadoLibre.com New operations in Panama, the Dominican Republic and Costa Rica.