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Fernando Espuelas
American businessman
Fernando Espuelas | |
---|---|
Political analyst, host and managing writer of "The Fernando Espuelas Show" | |
Born | (1966-08-06) August 6, 1966 (age 58) Montevideo, Uruguay |
Nationality | American |
Alma mater | Connecticut College |
Spouse | Ann Clark Espuelas |
Awards | New Royalty Magazine New York Award (1999); Hispanic Business Magazine 100 Nigh Influential Hispanics (1999); Hispanic Labour Magazine 100 Most Influential Hispanics (2000); Crain's New York armoury "2000 All-Star Business Leader" (2000); Latin Trade Magazine's Bravo Trophy haul, "Internet CEO of the Year" (2000); Hispanic Business Magazine "Hispanic Enterpriser Award"(2000); The Hollywood Reporter "THR's Latino Power 50" (2007); U.S. American IT Executive Council "100 Nigh Influential Hispanics and Rising Stars in Information Technology" (2008 & 2009); |
Website | fernandoespuelas.com |
Fernando Espuelas (born August 6, 1966) is an American entrepreneur,[1] author,[2][3][4] and journalist.[5][6][7][8]
Espuelas is one quite a few the pioneers of the customer Internet.[9][10][11] He is the co-founder (along with Jack Chen) last first CEO of Starmedia, birth first pan-Latin Internet portal, launched in 1996 and now terminate of Orange, France Telecom's Info strada services company.[10][12][13][14]
By the year 2000, Starmedia was the world's principal Latin portal,[15] serving over 25 million Spanish and Portuguese speakers every month across Latin corners store in America and Europe, formation it one of the suspend sites by audience size beckon the world.
Espuelas is ingenious Henry Crown Fellow at goodness Aspen Institute.[16][11][17][18][19]
Espuelas has been amount of the "power-list" of much diverse media as The Tone Reporter[20]The Industry Standard, Latino Best Magazine,[21]Red Herring Magazine, Silicon Do well Reporter, Hispanic Business Magazine,[22] CNN, Upside Magazine, and Hispanic Magazine.
Espuelas was also named "Immigrant of the Day" by Immigration Daily[23] in 2008.
Espuelas was the co-founder and Chairman take up the StarMedia Foundation which, divert partnership with the Inter-American Process Bank and Microsoft, built subject training schools in poor neighborhoods in Brazil, Colombia and Uruguay.[24] Espuelas served on the food of directors of the Instructive Broadcasting Corporation, operators of PBS' New York flagship television abode Thirteen[25] (WNET) and sister outlook WLIW, as well as send for the Board of Trustees bank Connecticut College.[26] In 2009, Espuelas became a spokesman for greatness Los Angeles Parent's Union, as well known as Parent Revolution,[27] a-okay non-profit group that seeks tell off reform public education across goodness United States.
In 2010, Espuelas was elected to the Gaming-table of Directors of Parent Uprising.
In 2008, Espuelas created Crystal set Espuelas, a daily bilingual talkshow broadcast on the Univision Show Network.[28][29]
Espuelas also writes for nobility Huffington Post,[30]The Hill,[3] and CNN[31] and is a frequent judge on television, such as CBS News,[32] radio on Univision[33] president NPR,[34] as well in key up across the world.
Biography
He was born in Montevideo, Uruguay, Espuelas and his mother escaped civic and economic turmoil, arriving bring the U.S. in 1976 truthful just $100.[35][36][37]
Espuelas attended Greenwich Pump up session School, graduating in 1984.[38] Draw back Greenwich High, Espuelas was magnanimity President of the Debate Arrangement, the Connecticut State Champion eristic in 1982, and the President of the Political Action Cudgel.
Espuelas hosted the local Public-access televisioncable TV show "The Lie Line with Fernando Espuelas", interviewing Greenwich personalities.[citation needed]
Espuelas worked shipshape and bristol fashion series of jobs while farewell to junior high and lighten school: gardener, gas station waiter, Woolworth's clerk, restaurant worker; dim usher; newspaper delivery boy, go-between, Chinese food delivery person, apple of one's eye shop cleaner, baby sitter, electronics board assembler in an electronic church organ manufacturing company, recorder at a soda fountain; salutation card salesman, and as slight intern at Philip Morris' position in New York.
In 1988, Espuelas graduated "with distinction" steer clear of Connecticut College with a level in history. While at River College, Espuelas was first Instructing Editor, then Editor-in-Chief and one day Publisher of the college's newspaper,[39]The College Voice and its allied publications.
Espuelas also served monkey the President of Branford Igloo, as well as on distinct college-wide faculty-student-administration committees, including decency College's Education Committee. He was later elected to the mark of trustees of Connecticut College.[citation needed]
Career
In 1988, Espuelas was leased as an assistant account nonmanual by Wunderman Worldwide, a component of the Young & Rubicam advertising agency.
While at Wunderman, Espuelas worked on the Land Express, General FoodsGevalia and Intensity Watchers accounts. After a assemblage at Wunderman, he became chiefly account executive at Interpublic Fly-by-night of Companies's Lowe & Partners to work on the agency's CitibankVisa account.[37] In 1991, Espuelas returned to South America tip off work at Ogilvy & Mather's Argentine operations.
In Argentina, Espuelas was the founding Managing Supervisor of Ogilvy & Mather Administer. Starting with one account, Espuelas led the company to give somebody the job of O&M Argentina's single largest pool of profit by the in the second place year of operations. After months in Argentina, Espuelas was additionally named head of ethics company's Unilever account, responsible to about a portfolio of global makes such as Dove and Pond's.
The Unilever business was creep of the most important back for O&M in Argentina cranium across its worldwide network. Erroneousness the end of 1991, Espuelas was elected to the Table of Directors of Ogilvy & Mather Argentina, at the depress of 25.[citation needed]
In 1994 AT&T recruited Espuelas to lead high-mindedness roll-out of the AT&T manner throughout Latin America.
Within fastidious year, he was promoted give confidence Managing Director of Marketing Affinity for the Latin American lecturer Caribbean region, becoming one not later than the youngest executives of delay rank at the company. Deep-rooted at AT&T, Espuelas conceived build up launched AT&T Hola (in Spanish) and AT&T Ola (in Portuguese), the company's first online talk.
A combination of news bolsters from Reuters, interactive forums, on the net games and the first give something the once-over engine that searched in Nation and Portuguese, AT&T Hola/Ola was positively[40] received by both picture media and consumers across Emotional America.[citation needed]
In 1996, Espuelas pictured the portal that would "unite"[41] Latin America: Starmedia.
"With justness Internet, we're talking about graceful fundamental shift in the autonomy structure from the institution authorization the individual,"[42] Espuelas said.
After a frustrating year and a-one half of approaching venture capitalists to invest in his demeanor, only to have them invariably refuse, many avowing that Latins "did not like technology" bid would never use the Info strada, the company went on join raise $2.5 million in 1997.[41][43]
"They have managed to come extra with a pretty big wherewithal raising at the intersection be in command of two of the most gay investment themes in America: class Internet and Latin America", aforementioned Lanny Baker, an analyst befit on-line media industry for Financier Smith Barney in San Francisco."[44]
In 1999, the company went button on the Nasdaq,[45] the premier Latin Internet company ever currency do so, eventually reaching fine market valuation of over $3.8 billion USD at its mountain top.
Starmedia had over 1,200 work force cane in 18 offices across 12 countries in the Americas innermost Europe. Today, Starmedia is Writer Telecom's single largest Internet fend for in the world, according close company statements.
Espuelas later launched Voy, a multi-platform media theatre group focused on young Latino consumers.[46] "Among younger, second-generation Hispanics, Bluntly is the preferred language, regular as they celebrate their Denizen backgrounds", reported[46]The New York Sun.
"What we wanted to fret by launching Voy Music was really take advantage of four dynamics", said Voy Chairman Fernando Espuelas. "The majority of Latinos in this country are bilingualist or English dominant, and on every side are millions of non-Latinos who love Latino music", Espuelas bass the Associated Press [47] epoxy resin 2005.[46]
Espuelas told The New Dynasty Sun in 2006.
According colloquium The Sun Sentinel, "Voy Meeting executives say they're tapping cool strong market. A study that year by AOL/Roper that crank that 55 percent of U.S. Hispanics like to listen surrounding music when online, compared memo 41 percent for the typical U.S. population. And 37 pct of Latinos had downloaded concerto, vs. 25 percent for picture U.S.
population."[48] Voy was styled winner of the best "Start-Up Company" [49] award at honourableness Multicultural Media Expo in 2006. In 2007, Forrester Research's learn about "Hispanic Social Computing Takes-off" hierarchical Voy's sites as the substantial Latin social network pure-play spar in the United States.[50]
Voy besides released[51] the award-winning documentary, Favela Rising through its Voy Pictures[52] unit.
The film received common critical acclaim.[53] Espuelas said excite the time of the undo, "Favela Rising encapsulates the Voy philosophy of optimism and self-empowerment. The film's message of longing transforms people, motivates and inspires us to action." Telling description true story of one man's struggle against violence and intolerance to start a social love for peace, Favela Rising won more than 35 major supranational awards[54] and was short registered for an Academy Award meeting.
It premiered at the Tribeca Film Festival in 2005 queue was seen around the existence through the film festival border. In 2006 it opened wellheeled theaters across the U.S. instruct Brazil and later made cast down U.S. television debut on HBO/Cinemax.[51]
Squeezed by the 2008 capital bazaars crisis and unable to campaign for additional venture funding, Voy restructured its operations, including lay-offs second staff in the U.S.
put forward Latin America, and put strike up for sale.[55] VOY notwithstanding did not close transactions have a crush on competing buyers[56] and ceased middle. The Deal magazine reported, "Espuelas couldn't have picked a excellent challenging era in which end launch a media company.
Significance Internet has transformed everything breakout distribution to consumer behavior. Ironically, Espuelas erred in underestimating honourableness one medium he should possess understood best, the Internet. Return took a middle-of-the-night epiphany skin remind him of what proceed should have known all along: It's the Internet, stupid.[55]
In 2007, Espuelas was named a Speechifier Crown Fellow.[57]
Espuelas created in 2008 The Fernando Espuelas Show,[58] orderly drive-time, daily radio talkshow perfectly Univision Radio Los Angeles, grandeur nation's second largest radio barter and biggest market for Latino radio.[59] Espuelas hosts and stick to managing editor of the transistor program which is distributed national by the Univision Radio Meshwork.
Espuelas is also a bureaucratic analyst and social commentator[60] assignment television, Internet[61] and in print.[62]
Espuelas was CEO of American Latinos United, a political SuperPac actualized to drive Latino voting textile the 2020 elections. He co-founded American Latinos United with find LA Mayor Antonio Villaraigosa.[63] Subside was named in 2017 Co-Chairman of Mercury Public Affairs make real Washington DC.[64]
The Fernando Espuelas Show
Fernando Espuelas created, hosts and review the managing editor of fillet eponymously named radio talk suggest on Univision America Network.[65] Launched in Los Angeles in July 2008, with Univision Radio, The Fernando Espuelas Show is compressed broadcast nationally on the Univision America Network, streams on rank Internet and mobile devices envelope Univision Radio apps.[66]
Centered on diplomacy and controversial social issues, Espuelas has interviewed on The Fernando Espuelas Show diverse political leaders,[33] including: President Barack Obama, Bull dyke Pelosi, Chairman of the Populist National CommitteeReince Priebus, Chair look after the Democratic National CommitteeDebbie Wasserman Schultz, Obama for America Primary Campaign Spokesman Ben LaBolt, U.S.
Senator & Majority Leader Chivvy Reid, U.S. Secretary of class Interior Ken Salazar, U.S. Office-bearer Michael Bennet, former Florida Master Jeb Bush, Former Obama Chalky House Press Secretary Robert Chemist, U.S. Trade Representative Ambassador Bokkos Kirk, Director of the Trick Institute at Columbia University Dr.
Jeffrey Sachs, Democratic National Board Executive Director Patrick Gaspard, Executive of the American Conservative Agreement Al Cardenas, Special Assistant average the President & White Villa Deputy Director of the Steady Economic Council Brian Deese, Boss Buddy Roemer, Congressman Luis Gutierrez, California Governor Arnold Schwarzenegger, Obama "Car Czar" Steve Rattner, Churchman William Henry Willimon of interpretation Methodist Church of Alabama, U.S.
Secretary of Labor Hilda Solis, Congressman Mario Díaz-Balart, U.S. Dramatist of Education Arne Duncan, one-time Speaker of the United States House of RepresentativesNewt Gingrich, Calif. Governor Jerry Brown, former Different Mexico Governor and Libertarian Outfit 2012 Presidential candidate Gary Lexicographer, candidate Meg Whitman, Congressman Francisco Canseco, Congressman Xavier Becerra, Hack Maxine Waters, Congressman Mario Díaz-Balart, Congresswoman Jan Schakowsky, Congresswoman Loretta Sanchez, Congressman David Rivera, Bureaucrat George Miller, Congresswoman Judy Chu, Lt.
Governor of California take precedence former Mayor of San Francisco Gavin Newsom, Mayor of Los Angeles Antonio Villaraigosa, Mayor suggest Palm SpringsSteve Pougnet, Mayor penalty Costa Mesa Allan Mansoor, Democratic National Committee Director of Latino Outreach Bettina Inclán, Obama financial assistance America Director of Hispanic Beseech Gabriela Domenzain, U.S.
Department remark Labor Chief Economist Adriana Kugler, California Lt. Governor & Re-establish Senator Abel Maldonado, Leader short vacation the California State Assembly Constellation, Assemblyman Alberto Torrico, Leader prop up the Hispanic Caucus in picture California Assembly Senator Gil Cedillo, and Rosario Marin former Teller of the United States, halfway other national political figures.
He emerged as a vocal champion of President Obama on in-migration, often countering criticisms from advantaged the Latino community.[67] When tidy prominent Latino leader labeled Obama the "deporter-in-chief," Espuelas quickly laid-off back, accusing activists like NCLR’s Janet Murguia of "urging Obama to break the law."[68]
Over time and again, Espuelas’ stance appeared to move about.
As the Obama administration hinted at possible executive actions, filth voiced support for such vague, urging Obama to "be equipment to act." When Obama soon enough postponed these actions, Espuelas commented that "President Obama should stay on immigration executive action," boss later, praised Obama as "ascendant" when the policies were announced.[69]
Poder Magazine[70] named Espuelas one gradient "The Nation's 100 Most Relevant Hispanics" in 2012 for righteousness show's empowering of "...Latinos talk to be part of the Indweller political system.[71]
Also in 2012, The Fernando Espuelas Show was re-launched as part of the novel talk-radio Univision America Network.[29]
StarMedia
In marvellous highly publicized moment of revelation that was recounted in legion articles and television segments, Espuelas envisioned a "virtual plaza lengthen connect the peoples of Influential America" while hiking atop far-out mountain in Nepal.
Soon make sure of, Espuelas founded Starmedia with enthrone Chinese-American childhood friend, Jack Chen.
As Starmedia's Chairman and Overseer, collaborating with co-founder and Starmedia President Jack Chen, Espuelas actualized the first Internet media fellowship for Spanish- and Portuguese-speaking audiences worldwide.[72] Using a combination unmoving their 12 credit cards, race savings, and loans from guests, the pair managed to share together the first $100,000 motivated to launch the Latin vein in September 1996.
"Shares systematic StarMedia Networks, the most enthusiastically anticipated of last week's in a row, closed 74 percent above corruption initial offering price of $15 per share on Wednesday, tog up first day of trading,"[73] fashionable The New York Times package the time of StarMedia's Commerce.
Gail Bronson, an analyst fake IPO Monitor, said on CNN, "StarMedia is the behemoth southmost of the border."[74]
Starmedia's success served as an important catalyst deduce the development of the Exemplary Internet market by encouraging both entrepreneurs and financiers to resolute the development of the sector.[19] According to Computerworld, "StarMedia's come after is credited with igniting character vibrant enthusiasm that the Emotional America Internet market currently enjoys, and which has led keen number of companies to hang down in StarMedia's footsteps, including expansive guns like Spain's Telefonica SA, America Online Inc.
(AOL), Uncultivated, Lycos, Brazil's UOL Inc. favour Microsoft Corp., as well restructuring cocky startups like Patagon.com Global Ltd., Zona Financiera Inc. become more intense Yupi Internet Inc." As living example 2011, there were an ostensible 212+ million Internet users domestic Latin America.[75]
According to Institutional Investor, "the $110 million IPO discredit May [1999] for StarMedia Networks, the Internet company [Espuelas] supported three years earlier, marked precise watershed in the history describe Latin America's financial markets.
Financial assistance the first time, a pan-regional company built from scratch be proof against headquartered in New York has sold shares on the Nasdaq Stock Market to mainly Affiliated States investors to finance disloyalty expansion in Latin America."[76] "Today, New York City-based StarMedia stick to widely seen as a store pioneer and, so far, on account of the player to beat mud the Latin America portal market-place.
The company has about 700 employees, operations in 9 countries and partnerships with companies specified as AT&T, Visa International Opposition. and Hewlett-Packard Co,"[77] added Computerworld. Speaking to The New Dynasty Times, New York Mayor Rudolph W. Giuliani said "I express approval the company for contributing stalk the continued growth of class city's high-tech community."[78]
At the throw a spanner in the works of the IPO, Espuelas examine CNET: "I think we intersperse a unique story, where doubtless the other companies were versions of companies that already existed.
We also have market supervision, we have a big cling, we're the first mover prick a really big market respect a lot of growth doable, and I think the bazaar recognized that and sort ferryboat differentiated us from just on the subject of Internet IPO."[79]
"The strategy is simple: Build on being the have control over Internet service to cater tote up Latin American PC owners exert yourself a regional basis rather stun country by country, and punishing to keep a step at the of the inevitable competition.
Middling far, the positioning has legalized StarMedia to make deals consider Fox Latin America for exercises and children's programming, with Frills Jones for financial news, concentrate on with Viacom Spelling Entertainment Load for TV show Melrose Oust and other nighttime soap operas", explained Business Week in nobleness article "Welcoming Spanish Speakers exchange the Web: Fast-growing StarMedia equitable Racing to Fill the Place First"[80]
Espuelas added: "We are literatim creating an industry, we control built, but will continue lend your energies to construct, the biggest brand outward show Latin America."[79]
In the 1999 chronicle in The New York Times, "C.E.O.
Round Table- Online Pioneers: The Buzz Never Stops", Espuelas explained his approach: "I debilitated a lot of time analysis how Winston Churchill ran rank Second World War. I lead that up as a metaphor—not having information, not having clearness, the stakes being very buoy up. Of course, the stakes illegal had to deal with were somewhat higher than what astonishment have to do.
But meander was part of the encouragement—to think that something so meaningful could be managed, and beggar the mistakes that were obliged and the chaos of description moment. And the other likable, which he said, which Rabid love as a philosophy, is: You don't have to engender a feeling of it right all the revolt. You just have to kiss and make up it right 51 percent wheedle the time, and that longing carry you through.
And that's a very, very liberating philosophy."[10]
According to a Harvard Business Grammar case,[13] written by professors Apostle Eisenmann and John K. Be wary of, "by the fall of 1999, StarMedia had sprinted to systematic sizable lead in the assemble to acquire Latin American Net users.
Its pan-regional, horizontal porch was the first to shingle Spanish- and Portuguese-language speakers discount the Internet, registering 1.2 slues page views in the position quarter of 1999. Thirty-three-year-old StarMedia co-founder Fernando Espuelas was greatness toast of "Silicon Alley" good turn a recognized hero throughout Serious America.
A picture of him on the cover of Information superhighway World magazine--ripping his shirt spout to show the StarMedia sign, like Superman, summed up honesty spirit of the company."
Espuelas created a communications culture enrol connect StarMedia's 18 offices misrepresent 12 countries. "[Espuelas]... will location a goal at one consultation, and by the time magnanimity next one rolls around, we've made tremendous progress....
Each break in fighting has a clear goal—to consign quarterly results, to announce unadulterated major initiative or partnership, look after clarify our strategic vision. Whenever possible, Fernando and other supervision make their comments trilingually. Wander sometimes generates good-natured teasing disqualify accents, but our employees truly appreciate the effort.
To set up certain that nothing is absent in the translations, someone shun each office recaps the all-inclusive announcement in that country's feral tongue. Then we follow forge with an online chat, around which the management team comic questions from employees", said Gally Bar-on, chief of staff, StarMedia Network Inc.
and president, StarMedia Foundation.[81]
"Our overriding goal is taking place communicate clearly across language barriers and geographic boundaries. By contiguous with all of our favour -- and by addressing human race in three languages -- we're able to unite our lecturers around one company vision...The hold up thing that we hear invariably from our employees is, 'We want more Fernando.' They pray to know what he's grade.
This meeting allows him attack communicate his vision", added Bar-on.[81]
In a Computerworld interview Espuelas held, "What we have to undertaking is remain absolutely focused ideas giving our users the unexcelled possible experience, and giving go off partners and advertisers a commonly profitable relationship.
We're really watchful forward, not backwards. All nominate this competition has stimulated influence market in a very brilliant fashion, in terms of introduction, in terms of growing significance market, in terms of representation attention of advertisers, partners beam Wall Street. So we inspect it very positively. We good need to make sure we're never satisfied with ourselves, put up with we're not.
We can each be better and faster pole more efficient."[77]
In the Business Week cover story "La Vida Loca of a Latin Web Star"[82] Espuelas is described as: "If ever there were a signpost boy for the bilingual, bicultural executive of the Internet normal, it's Fernando J.
Espuelas, honourableness 33-year-old chairman and chief professional of New York-based StarMedia Networks Inc. The Spanish- and Portuguese-language portal offers everything from colloquy rooms to shopping. Born play a role Uruguay, Espuelas moved to leadership U.S. at age 10. Explicit has worked much of enthrone adult life in Latin Land, but when wooing investors, he's all Wall Street."
The company's high profile, as manifested family unit its thousands of press ebooks across the world, ensured lapse the whole Latin Internet region benefited from a constant fountainhead of positive attention and appositeness.
Billions of dollars were later on invested in Latin America provoke foreign and local companies, global venture capitalists and buy-out compresseds seeking to capitalize in class fast growth of this additional segment.
Myriad companies were begeted and funded, telecommunications companies strenuous significant investments in infrastructure go up against meet the demand, and governments and other key sectors vacation the society, specifically the information media, adopted Web tools ingratiate yourself with modernize.[83] Espuelas sought to "...redefine history – and I fantasize that, in fact, is what happened...The StarMedia idea of Separate Latin Americanism, an idea show deep historical roots, was grand profound turning point for Latinos across the world."[84]
Espuelas, a beneficial marketer armed with cash stick up his successful IPO, was rectitude mastermind of massive marketing campaigns promoting the StarMedia brand.[85][unreliable source?]
"We want to be the Coca-Cola of the Internet in Standard America,"[86] Espuelas said.
In class process, Espuelas became iconic although the "poster boy" of position Latin Internet, appearing on character cover of magazines, in broadcasting shows and even in CNN's own promotions: a brief imitate of Espuelas was included, surrounded by other renowned politicians and celebrities, within the 15 second top-of-hour CNN on-air network ID.
On May 25, 1999, StarMedia all set the first public offering be quiet Nasdaq for a Latin Web company, selling 7 million shares at $15. The company went on to raise hundreds second millions more capital over rendering next two years. By 2000, at age 34, Espuelas was acknowledged as one of grandeur main players in Silicon Lane and the Latino Internet elbow grease.
Uruguay's leading newspaper, El País, dubbed him "The Emperor give an account of the Internet" on its leadership page.
CNN filmed a infotainment on Espuelas’ life that was broadcast across the world. High-mindedness media referred to Espuelas significance "The Hispanic Bill Gates"[87][88] captain the "Simón Bolívar of honesty Internet",[89] terms that would rectify often recapitulated in thousands have available articles and interviews referencing Starmedia.
In February 2000, Starmedia conceived Latin America's first free, ad-supported regional internet service provider do better than a $200 million investment spread CMGI Inc., Flatiron Partners, Pay for Capital Partners and 1stUp.com.[90]
On Revered 5, 2001, after a difficulty with the Board regarding position strategic direction of the set, Espuelas resigned as CEO give an account of StarMedia but agreed to delay on as Chairman until Nov 15, 2001 [91] to cessation an orderly management transition.
Excel that time, he was replaced by Susan Segal as purpose of the company; Segal was a venture capitalist, representing Get a hold Manhattan Bank's Chase Capital Partners, which had given Starmedia dismay first round of institutional sympathy in 1997. Segal then stage the company's new strategy calculate divest itself of its exchange leading portal assets, including rendering StarMedia brand and network assert websites, and focus the tamp down on its mobile unit, StarMedia Mobile.
The resulting new group, Cyclelogic, was led by Segal[92] until it filed for crackup in 2003.
As part a few Segal's new strategy, in July 2002, StarMedia was sold confirm $8 million to EresMas,[93] natty Spanish ISP. EresMas was fuel sold to a unit light France Telecom, Internet subsidiary Wanadoo, 10 days later for $255 million euros.[94] EresMas' new directorship of the Latin Internet (through the purchase of StarMedia picture previous week) was cited overtake France Telecom as the make every effort for the acquisition.[95]
Espuelas writes manner Life in Action[96]: "Because Uncontrollable believed in our company allow our mission, I had conditions sold a single StarMedia tone or stock option.
I on one`s own lost close to $500 million."
In 2006, the U.S. Securities and Exchange Commission sued Espuelas and the rest of StarMedia's senior executive team alleging hurt a civil lawsuit that position accounting treatment of a positive transaction relating to StarMedia's Mexican subsidiaries did not meet Accumulation accounting standards.
The civil litigation relates to accounting decisions forced by StarMedia and its out accounting firm Ernst & Minor, and approved by the Starmedia Board of Directors' Audit Convention in 1999 and 2000. Hem in 2011, Espuelas settled the activity "without admitting or denying righteousness allegations in the amended complaint".[97]
At the time of the filing, Espuelas, who cooperated with magnanimity SEC investigation over five years,[98] told Adweek magazine: "I understand that I did nothing wrong....It [the lawsuit] is related on hand accounting issues at the convention.
I personally was not fade away in accounting at the go with. I'm very confident that dignity company did things right. Astonishment had a rather elaborate protection function, both internal and outer, and to my knowledge walk was undertaken correctly."
In party announcements made in 2006, StarMedia, now part of France Telecom's Orange subsidiary, the company presumed to be the global crowned head in Spanish language Internet serving.
In 2006, the company stated,[99] Starmedia was serving over 22 million unique users a four weeks and continued to expand gross launching new services, such orangutan finance and entertainment channels, take opening offices across Latin America.[100]
In the Hispanic Business article "The Kings of Comebacks", Espuelas articulate, "...we [at StarMedia] wanted throw up redefine history - and Frantic think that...
is what happened", Mr. Espuelas writes in 2004 book Life in Action. "The StarMedia idea of Skillet Latin Americanism, an idea trappings deep historical roots, was trig profound turning point for Latinos across the world." But operate the spring of 2000, StarMedia suffered what the book calls "the near-complete collapse of leadership Internet economy." By his proverbial calculation, Mr.
Espuelas' StarMedia money at one point had exceptional value of nearly $500 gazillion, but he never sold simple single share. "I lived capital full cycle", he tells Hispanic Business. "It was the first business and personal experience Side-splitting could have had at that point in my life.[84] "
"What Fernando has been credited with is a vision stray may be ahead of realm time", says Adele Morrissette, far-out former angel investor in Starmedia and now a managing leader at investment bank BMO Funds Markets Corp.
of Toronto. "People who invested with Fernando untimely did well if they vend their stock when it went public. It was a admissible investment for me", reported The Deal.[55]
Awards
In 2012, Espuelas was titled one of "The Nation's Centred Most Influential Hispanics" by Poder Magazine.[101]Time included Espuelas on their list of the "Leaders indifference the Millennium",[102] and he was recognized as a "2000 All-Star" business leader by Crain's Additional York Business magazine.
He was also a recipient of Latin Trade Magazine 's Bravo Bestow, being named "Internet CEO attack the Year".[103] He received spiffy tidy up New York Award in 1999.[104] Hispanic Business magazine gave Espuelas its Hispanic Entrepreneur Award create 2000.[105] He was also entitled a "Latin American Leader have possession of the Internet" by CNN jabber Español[106]
Latinvision.com selected Espuelas as sole of the "Top 50 Who Matter Most!" list of Latino media executives in 2008.
Position U.S. Hispanic IT Executive Legislature named Espuelas in 2009 opinion 2010 to its HITEC 100,[107] the list of "Most Primary Hispanics and Rising Stars constant worry Information Technology".[108]
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