5 Fastest Growing E-Commerce Companies in 2024

In this piece, we will take a look at the five fastest growing e-commerce companies in 2024. If you want to learn more about the e-Commerce industry and how it evolved over the years, then you can check out 20 Fastest Growing E-Commerce Companies in 2024.

5. MercadoLibre, Inc. (NASDAQ:MELI)

Latest Annual Revenue Growth: 25.71%

MercadoLibre, Inc. (NASDAQ:MELI) is one of the biggest e-Commerce companies in Latin America. Its $88 billion market cap is reflected by the fact that MercadoLibre, Inc. (NASDAQ:MELI)  has a presence in several high growth regions such as Brazil and Mexico. This allows the firm to position itself in markets that are expected to grow faster than developed, Western economies. Subsequently, it’s also unsurprising that the number of hedge funds that have bought MercadoLibre, Inc. (NASDAQ:MELI)’s shares has also increased over the years. While hedge fund interest peaked during the first quarter of 2021 when the coronavirus pandemic was seeing investors rush into technology companies, it fell over the next couple of quarters.

However, as of Q3 2023 end, the hedge funds seem to be returning to the stock, as the latest data shows that during the period, 76 out of the 910 hedge funds part of Insider Monkey’s database had bought the shares.