A year later, after being turned down by over 50 venture capitalists across the U.
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Well before the twin stock market and Latin American collapses ofwhich severely impacted StarMedia's business and share price, major StarMedia investors had realized ificant profits on their StarMedia investments. Investors such as WarburgPincusIntelGE CapitalHearst and many other institutions and individuals sold their StarMedia shares at or near the peak of the market.
Rust, "by the fall ofStarMedia had sprinted to a sizable lead in the race to acquire Latin American Internet users. Its pan-regional, horizontal portal was char first to target Spanish- and Portuguese-language speakers on the Internet, registering 1.
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A picture of him on the cover of Internet World magazine--ripping his shirt open to show the Chst logo, like Supermansummed up the spirit of the company. StarMedia launched web-basedchat and streaming video in Spanish and Portuguese before its U. StarMedia's webmail service, branded as LatinMail was a popular free service, launched in7 years before the creation of Gmail in as an early beta webmail service.
LatinMail services were discontinued suddenly in  with no prior notice from Starmedia. StarMedia's chat was first introduced in and branded as LatinChat.
LatinMail and LatinChat websites and brands were registered as independent trademarks, operated as a service by StarMedia. InEspuelas launched the first ever television campaign across Latin America promoting the Internet and the StarMedia brand, helping to spark the subsequent explosion of Internet use in the region.
Other innovations vhat the first instant messaging system in Latin America; in partnership with HP the first out-of-the-box e-commerce platform for small businesses; and with IBMthe first free ISP in the region. As part of Espuelas' push, StarMedia acquired 12 other media and technology companies in the U.
At its peak, StarMedia had over 1, employees in 18 offices across 12 countries. He never sold any shares or stock options, as Espuelas wrote in Life in Action.
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StarMedia became the best known, most highly traded Latin Internet Stock on Nasdaq during the late s dot-com boom. Technology market blow-up, Latin American regional bust and sale During the.
After an independent investigation initiated by a special committee of Board of Directors found no wrongdoing by management, the Board's Audit Committee and StarMedia's outside ants, the class-action suit was settled by the Board and its insurance company. The lawsuit was subsequently dismissed by the Federal judge.
Enrique Narciso was named CEO of the company. Segal ran the company until it filed for bankruptcy in References "Starmedia on Alexa. Retrieved 24 May Archived from the chwt on Retrieved