MercadoLibre (NASDAQ:MELI) is one of the biggest e-commerce players on the public markets. In this Industry Focus: Tech segment, Motley Fool analyst Dylan Lewis and contributor Danny Vena explain where exactly the company operates, and which countries make up the vast majority of its traffic.

A full transcript follows the video.

This video was recorded on June 23, 2017.

Dylan Lewis: I think the recurring theme with this is going to be, there are some idiosyncrasies that are specific to the Latin American market that Mercado deals with. In some ways, they've benefited from the fragmented nature of that market and the volatility there. In other ways, it's presented some obstacles for them. But it's really where they operate. You look at the breakdown, they are in most of the major markets there. Brazil is their largest market, by geography, I think about 58% of their business comes from there. Argentina is about 26%. They have a bunch of others in there. But they are in around 19 countries, right?

Danny Vena: They are. They are set up in 18 Latin American countries. You mentioned the biggest ones -- Brazil and Argentina, they make up about 84% of their market. Also, 5% of their market sales come from Mexico, 5% from Venezuela, and the rest come from the other countries. It is notable that they recently invaded Europe and they have set up a website in Portugal.

Lewis: I guess if they were going to go to Europe, that would be the country that would make the most sense.

Vena: It's a good start. I expect they're going to be in Spain at some point.

Danny Vena owns shares of AMZN and MercadoLibre. Dylan Lewis owns shares of AMZN and MercadoLibre. The Motley Fool owns shares of and recommends AMZN and MercadoLibre. The Motley Fool has a disclosure policy.