Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LEVY ANTON J
  2. Issuer Name and Ticker or Trading Symbol
MERCADOLIBRE INC [MELI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC, 3 PICKWICK PLAZA
3. Date of Earliest Transaction (Month/Day/Year)
05/09/2011
(Street)

GREENWICH, CT 06830
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/09/2011   S   92,252 D $ 88.728 1,047,555 I See footnotes (1) (7) (8)
Common Stock 05/09/2011   S   1,195 D $ 88.728 1,047,555 I See footnotes (2) (7) (8)
Common Stock 05/09/2011   S   220 D $ 88.728 1,047,555 I See footnotes (3) (7) (8)
Common Stock 05/09/2011   S   100 D $ 88.728 1,047,555 I See footnotes (4) (7) (8)
Common Stock 05/09/2011   S   5,152 D $ 88.728 1,047,555 I See footnotes (5) (7) (8)
Common Stock 05/09/2011   S   1,081 D $ 88.728 1,047,555 I See footnotes (6) (7) (8)
Common Stock 05/10/2011   S   46,125 D $ 88.5 1,047,555 I See footnotes (1) (7) (8)
Common Stock 05/10/2011   S   64,844 D $ 88.654 1,047,555 I See footnotes (1) (7) (8)
Common Stock 05/10/2011   S   598 D $ 88.5 1,047,555 I See footnotes (2) (7) (8)
Common Stock 05/10/2011   S   840 D $ 88.654 1,047,555 I See footnotes (2) (7) (8)
Common Stock 05/10/2011   S   110 D $ 88.5 1,047,555 I See footnotes (3) (7) (8)
Common Stock 05/10/2011   S   155 D $ 88.654 1,047,555 I See footnotes (3) (7) (8)
Common Stock 05/10/2011   S   50 D $ 88.5 1,047,555 I See footnotes (4) (7) (8)
Common Stock 05/10/2011   S   70 D $ 88.654 1,047,555 I See footnotes (4) (7) (8)
Common Stock 05/10/2011   S   2,096 D $ 88.5 1,047,555 I See footnotes (5) (7) (8)
Common Stock 05/10/2011   S   3,171 D $ 88.654 1,047,555 I See footnotes (5) (7) (8)
Common Stock 05/10/2011   S   541 D $ 88.5 1,047,555 I See footnotes (6) (7) (8)
Common Stock 05/10/2011   S   761 D $ 88.654 1,047,555 I See footnotes (6) (7) (8)
Common Stock 05/10/2011   J   930 D $ 0 (9) 1,047,555 I See footnotes (5) (7) (8)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LEVY ANTON J
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
  X      

Signatures

 /s/ Anton J. Levy   05/11/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) By General Atlantic Partners 84, L.P ("GAP 84"). See footnote 7.
(2) By GapStar, LLC ("GapStar"). See footnote 7.
(3) By GAPCO GmbH & Co. KG ("KG"). See footnote 7.
(4) By GAP Coinvestments CDA, L.P. ("CDA"). See footnote 7.
(5) By GAP Coinvestments III, LLC ("GAPCO III"). See footnote 7.
(6) By GAP Coinvestments IV, LLC ("GAPCO IV"). See footnote 7.
(7) Amount of securities beneficially owned following May 11, 2011 represents 966,385 shares of common stock owned by GAP 84, 12,522 shares owned by GapStar, 53,969 shares owned by GAPCO III, 11,333 shares owned by GAPCO IV, 1,043 shares owned by CDA and 2,303 shares owned by KG. General Atlantic LLC ("General Atlantic") is the general partner of General Atlantic GenPar, L.P. ("GenPar") and CDA.
(8) GenPar is the general partner of GAP 84. The officers of GapStar and the managing members of GAPCO III and GAPCO IV are managing directors of General Atlantic. GAPCO Management GmbH ("GmbH Management") is the general partner of KG. The managing directors of General Atlantic make voting and investment decisions with respect to the securities held by KG and GmbH Management. Mr. Levy is a managing director of General Atlantic and a managing member of GAPCO III and GAPCO IV. Mr. Levy disclaims beneficial ownership of such shares beneficially owned by them except to the extent of his pecuniary interest therein.
(9) Distribution of shares of common stock to certain members of GAPCO III.

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