Rocket Man.StarMedia founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Fernando Espuelas Fernando Espuelas (b. August 6 1966 in Montevideo, Uruguay) is a Latino entrepreneur and the founder of StarMedia Network, the first pan-Latin Internet portal in 1996 and the first IPO for a Latin Internet company in 1999.
In 2002, Espuelas founded VOY, L.L.C. is the hottest of a growing number Latin American Internet entrepreneurs. The high-strung digital maverick has raised more venture capital than anybody else, has taken his company public and has led the firm to a market cap in excess of US$2 billion. Espuelas spoke with LATIN TRADE Latin Trade is a monthly magazine covering global business in Latin America and the Caribbean. Similar to Forbes and Fortune Magazine in coverage, the magazine was founded in 1993 and now publishes 87,000 copies 1 each month in Spanish, Portuguese, and English. associate
You were recently quoted as saying, "I was 29 and making really good money but really unsatisfied." You are now 33 and making even better money. Are you satisfied?
It has never been about the money for me. StarMedia represents an opportunity for me to build a new Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. for the new century.
What do you mean "build a new Latin America?"
The Internet is comparable to the French Revolution. Before the revolution, the individual in French society had no role unless he or she was a nobleman. After the revolution, every individual became important. That's what the Internet will do in Latin America. We are talking about a complete and permanent shift at every level of society. For me to be in the middle of it all is a very exciting opportunity.
The name StarMedia seems an odd name for a company that targets people who speak Spanish and Portuguese.
There are very few words that translate both into Spanish and Portuguese. We wanted to have one brand that could be identified in both languages. In fact, we wanted to have a name with no meaning, so that we could create the meaning.
Everybody's launching Spanish-language sites, With the field so crowded, who's gonna make a buck?
That's the million dollar question. If you want to know how it's going to shake out just look at the U.S. market. You have five top brands that control 65% of the audience and collect 85% of the [advertising] dollars. I see four or five brands in Latin America: StarMedia, AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , Yahoo! en Espanol and Telef6nica. Everybody else is either going to be acquired or will go out of business.
You didn't mention billionaire Carlos Slim's Telefonos de Mexico.
I believe they will be a successful ISP (1) See in-system programmable.
(2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. (Internet Service Provider Internet service provider (ISP)
Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. ). But being a strong monopoly is no guarantee you can be a strong and successful portal site Noun 1. portal site - a site that the owner positions as an entrance to other sites on the internet; "a portal typically has search engines and free email and chat rooms etc. . Not to pick on Telmex, but these companies have a brand problem.
Projections show e-commerce in Latin America doubling on average over the next five years to $8 billion. How will StarMedia get in on this market?
At StarMedia, we simply want to connect buyers and sellers of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . To do this, we need three things: First, we need to bring more merchants that communicate in Spanish and Portuguese because Latin American consumers want information in their own language. Secondly, we need a uniform credit card acceptance system. We are currently working with banks and others to create that. Finally, we need to give Latin American users a one-stop system to ship goods through customs in a predictable way
What is your biggest fear?
Are we organized the right way? Can we execute our plans as well as we did in the past? For example, last year we had 30 people on staff, but by the end of the year we could have 400 to 500. I'm very focused on internal organization.
You raised millions of dollars with your IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in May. Why not simply sell StarMedia, move on and pursue other ambitions? Like becoming president of Uruguay?
I always wonder why I'm asked about being president of Uruguay so often. For me, there is absolutely no challenge greater than running StarMedia.