The Surprising Change at MercadoLibre That No One Seems to Notice

There's a document with a funny name that provides shareholders with deep insights into a public company's business and its growth strategy. This not-so-secret report, called a 10-K, is required by the SEC, published annually, and available to the public.

As I was reviewing MercadoLibre's (NASDAQ: MELI) latest filing, I noticed something that was hard to ignore. It'll make you think about this Latin American e-commerce and payments leader in a brand new way.

As MercadoLibre's top-line revenues grew at a 29% compound annual growth rate over the last seven years, its information technology and product development team has grown at an even faster pace. Looking at its annual SEC filings over that time, this team has increased in size by more than 10-fold. For investors doing the math, this rate of change is mind-boggling, equating to hiring more a new employee every single workday for seven years -- and then 600 more on top of that!

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Source Fool.com