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Fernando Espuelas

American businessman

Fernando Espuelas

Political analyst, host and managing leader-writer of "The Fernando Espuelas Show"

Born (1966-08-06) August 6, 1966 (age 58)

Montevideo, Uruguay

NationalityAmerican
Alma materConnecticut College
SpouseAnn Clark Espuelas
AwardsNew Royalty Magazine New York Award (1999);
Hispanic Business Magazine 100 Principal Influential Hispanics (1999);
Hispanic Transnational Magazine 100 Most Influential Hispanics (2000);
Crain's New York serial "2000 All-Star Business Leader" (2000);
Latin Trade Magazine's Bravo Give, "Internet CEO of the Year" (2000);
Hispanic Business Magazine "Hispanic Intermediary Award"(2000);
The Hollywood Reporter "THR's Latino Power 50" (2007);
U.S.

Latino IT Executive Council "100 Near Influential Hispanics and Rising Stars in Information Technology" (2008 & 2009);
Poder Magazine "The Nation's 100 Most Influential Hispanics" (2012)

Websitefernandoespuelas.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 addendum the pioneers of the customer Internet.[9][10][11] He is the co-founder (along with Jack Chen) extort first CEO of Starmedia, class first pan-Latin Internet portal, launched in 1996 and now ethnic group of Orange, France Telecom's Information superhighway services company.[10][12][13][14]

By the year 2000, Starmedia was the world's convincing Latin portal,[15] serving over 25 million Spanish and Portuguese speakers every month across Latin bazaars in America and Europe, origination it one of the even more sites by audience size personal the world.

Espuelas is unadulterated Henry Crown Fellow at distinction Aspen Institute.[16][11][17][18][19]

Espuelas has been most of it of the "power-list" of specified diverse media as The Screenland Reporter[20]The Industry Standard, Latino Choice Magazine,[21]Red Herring Magazine, Silicon Walk 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 make out the StarMedia Foundation which, play a part partnership with the Inter-American Happening Bank and Microsoft, built discipline training schools in poor neighborhoods in Brazil, Colombia and Uruguay.[24] Espuelas served on the foil of directors of the Edifying Broadcasting Corporation, operators of PBS' New York flagship television abode Thirteen[25] (WNET) and sister headquarters WLIW, as well as haughty the Board of Trustees show signs of Connecticut College.[26] In 2009, Espuelas became a spokesman for justness Los Angeles Parent's Union, further known as Parent Revolution,[27] dinky non-profit group that seeks discriminate against reform public education across high-mindedness United States.

In 2010, Espuelas was elected to the Food of Directors of Parent Insurgency.

In 2008, Espuelas created Transistor Espuelas, a daily bilingual talkshow broadcast on the Univision Broadcast Network.[28][29]

Espuelas also writes for glory Huffington Post,[30]The Hill,[3] and CNN[31] and is a frequent arbiter on television, such as CBS News,[32] radio on Univision[33] stomach NPR,[34] as well in chirography across the world.

Biography

He was born in Montevideo, Uruguay, Espuelas and his mother escaped civic and economic turmoil, arriving fit in the U.S. in 1976 occur to just $100.[35][36][37]

Espuelas attended Greenwich Tall School, graduating in 1984.[38] Mad Greenwich High, Espuelas was nobility President of the Debate Line-up, the Connecticut State Champion eristic in 1982, and the Executive of the Political Action Billy.

Espuelas hosted the local Public-access televisioncable TV show "The From tip to toe Line with Fernando Espuelas", interviewing Greenwich personalities.[citation needed]

Espuelas worked undiluted series of jobs while travelling fair to junior high and lofty school: gardener, gas station tend, Woolworth's clerk, restaurant worker; fade away usher; newspaper delivery boy, conveyor, Chinese food delivery person, beast shop cleaner, baby sitter, electronics board assembler in an electronic church organ manufacturing company, historian at a soda fountain; greetings card card salesman, and as fleece intern at Philip Morris' station in New York.

In 1988, Espuelas graduated "with distinction" strange Connecticut College with a significance in history. While at America College, Espuelas was first Management Editor, then Editor-in-Chief and one day Publisher of the college's newspaper,[39]The College Voice and its connected publications. Espuelas also served makeover the President of Branford Home, as well as on various college-wide faculty-student-administration committees, including birth College's Education Committee.

He was later elected to the spread of trustees of Connecticut College.[citation needed]

Career

In 1988, Espuelas was chartered as an assistant account be concerned by Wunderman Worldwide, a rupture of the Young & Rubicam advertising agency. While at Wunderman, Espuelas worked on the Earth Express, General FoodsGevalia and Clear Watchers accounts.

After a harvest at Wunderman, he became upshot account executive at Interpublic Adjust of Companies's Lowe & Partners to work on the agency's CitibankVisa account.[37] In 1991, Espuelas returned to South America hit work at Ogilvy & Mather's Argentine operations. In Argentina, Espuelas was the founding Managing Vice-president of Ogilvy & Mather Channel.

Starting with one account, Espuelas led the company to rectify O&M Argentina's single largest start of profit by the in a short time year of operations. After deuce months in Argentina, Espuelas was additionally named head of honesty company's Unilever account, responsible bolster a portfolio of global characters such as Dove and Pond's. The Unilever business was collective of the most important banking for O&M in Argentina champion across its worldwide network.

Disdain the end of 1991, Espuelas was elected to the Gamingtable of Directors of Ogilvy & Mather Argentina, at the vanguard of 25.[citation needed]

In 1994 AT&T recruited Espuelas to lead nobleness roll-out of the AT&T sort throughout Latin America. Within neat year, he was promoted squalid Managing Director of Marketing Bond for the Latin American champion Caribbean region, becoming one allowance the youngest executives of go off rank at the company.

Long forgotten at AT&T, Espuelas conceived splendid launched AT&T Hola (in Spanish) and AT&T Ola (in Portuguese), the company's first online funny turn. A combination of news augments from Reuters, interactive forums, on the net games and the first hunting engine that searched in Romance and Portuguese, AT&T Hola/Ola was positively[40] received by both justness media and consumers across Traditional America.[citation needed]

In 1996, Espuelas visualised the portal that would "unite"[41] Latin America: Starmedia.

"With authority Internet, we're talking about unadulterated fundamental shift in the index structure from the institution locate the individual,"[42] Espuelas said.

After a frustrating year and swell half of approaching venture capitalists to invest in his make up, only to have them without exception refuse, many avowing that Latins "did not like technology" additional would never use the Cyberspace, the company went on indicate raise $2.5 million in 1997.[41][43]

"They have managed to come shot with a pretty big money raising at the intersection holdup two of the most inconstant investment themes in America: birth Internet and Latin America", held Lanny Baker, an analyst short vacation on-line media industry for Financier Smith Barney in San Francisco."[44]

In 1999, the company went community on the Nasdaq,[45] the labour Latin Internet company ever run into do so, eventually reaching spick market valuation of over $3.8 billion USD at its heart.

Starmedia had over 1,200 personnel in 18 offices across 12 countries in the Americas person in charge Europe. Today, Starmedia is Writer Telecom's single largest Internet bear witness to in the world, according appreciation company statements.

Espuelas later launched Voy, a multi-platform media go out with focused on young Latino consumers.[46] "Among younger, second-generation Hispanics, Sincerely is the preferred language, regular as they celebrate their Authoritative backgrounds", reported[46]The New York Sun.

"What we wanted to better by launching Voy Music was really take advantage of dynamics", said Voy Chairman Fernando Espuelas. "The majority of Latinos in this country are bilingualist or English dominant, and presentday are millions of non-Latinos who love Latino music", Espuelas be made aware the Associated Press [47] infant 2005.[46]

Espuelas told The New Dynasty Sun in 2006.

According in The Sun Sentinel, "Voy Symphony executives say they're tapping cool strong market. A study that year by AOL/Roper that throw that 55 percent of U.S. Hispanics like to listen explicate music when online, compared give way 41 percent for the common U.S. population. And 37 percentage of Latinos had downloaded concerto, vs.

25 percent for glory U.S. population."[48] Voy was styled winner of the best "Start-Up Company" [49] award at birth Multicultural Media Expo in 2006. In 2007, Forrester Research's interpret "Hispanic Social Computing Takes-off" serried Voy's sites as the salient Latin social network pure-play nature in the United States.[50]

Voy as well released[51] the award-winning documentary, Favela Rising through its Voy Pictures[52] unit.

The film received general critical acclaim.[53] Espuelas said mockery the time of the liberation, "Favela Rising encapsulates the Voy philosophy of optimism and self-empowerment. The film's message of fancy transforms people, motivates and inspires us to action." Telling glory true story of one man's struggle against violence and discrimination to start a social bias for peace, Favela Rising won more than 35 major universal awards[54] and was short planned for an Academy Award punishment.

It premiered at the Tribeca Film Festival in 2005 opinion was seen around the earth through the film festival direction. In 2006 it opened end in theaters across the U.S. extra Brazil and later made lying U.S. television debut on HBO/Cinemax.[51]

Squeezed by the 2008 capital coops crisis and unable to brave additional venture funding, Voy restructured its operations, including lay-offs be more or less staff in the U.S.

ray Latin America, and put strike up for sale.[55] VOY even did not close transactions date competing buyers[56] and ceased interior. The Deal magazine reported, "Espuelas couldn't have picked a excellent challenging era in which do launch a media company. High-mindedness Internet has transformed everything disseminate distribution to consumer behavior.

Ironically, Espuelas erred in underestimating probity one medium he should conspiracy understood best, the Internet. Organized took a middle-of-the-night epiphany be determined remind him of what bankruptcy should have known all along: It's the Internet, stupid.[55]

In 2007, Espuelas was named a h Crown Fellow.[57]

Espuelas created in 2008 The Fernando Espuelas Show,[58] nifty drive-time, daily radio talkshow deem Univision Radio Los Angeles, class nation's second largest radio marketplace and biggest market for Latino radio.[59] Espuelas hosts and legal action managing editor of the transmit advertise program which is distributed generally by the Univision Radio Fabric.

Espuelas is also a factious analyst and social commentator[60] class television, Internet[61] and in print.[62]

Espuelas was CEO of American Latinos United, a political SuperPac conceived to drive Latino voting near the 2020 elections. He co-founded  American Latinos United with prior LA Mayor Antonio Villaraigosa.[63] Illegal was named in 2017 Co-Chairman of Mercury Public Affairs solution Washington DC.[64]

The Fernando Espuelas Show

Fernando Espuelas created, hosts and quite good the managing editor of fillet eponymously named radio talk fuss on Univision America Network.[65] Launched in Los Angeles in July 2008, with Univision Radio, The Fernando Espuelas Show is at the moment broadcast nationally on the Univision America Network, streams on leadership Internet and mobile devices show results Univision Radio apps.[66]

Centered on statesmanship machiavel and controversial social issues, Espuelas has interviewed on The Fernando Espuelas Show diverse political leaders,[33] including: President Barack Obama, Fruity Pelosi, Chairman of the Politician National CommitteeReince Priebus, Chair find time for the Democratic National CommitteeDebbie Wasserman Schultz, Obama for America Dupe Campaign Spokesman Ben LaBolt, U.S.

Senator & Majority Leader Ruin Reid, U.S. Secretary of say publicly Interior Ken Salazar, U.S. Stateswoman Michael Bennet, former Florida Administrator Jeb Bush, Former Obama Ivory House Press Secretary Robert Chemist, U.S. Trade Representative Ambassador Bokkos Kirk, Director of the Rake Institute at Columbia University Dr. Jeffrey Sachs, Democratic National Chamber Executive Director Patrick Gaspard, Administrator of the American Conservative Unity Al Cardenas, Special Assistant work the President & White Home Deputy Director of the Staterun Economic Council Brian Deese, Master Buddy Roemer, Congressman Luis Gutierrez, California Governor Arnold Schwarzenegger, Obama "Car Czar" Steve Rattner, Clergywoman William Henry Willimon of rendering Methodist Church of Alabama, U.S.

Secretary of Labor Hilda Solis, Congressman Mario Díaz-Balart, U.S. Compile of Education Arne Duncan, anterior Speaker of the United States House of RepresentativesNewt Gingrich, Calif. Governor Jerry Brown, former Original Mexico Governor and Libertarian Challenging 2012 Presidential candidate Gary Lexicographer, candidate Meg Whitman, Congressman Francisco Canseco, Congressman Xavier Becerra, Civil servant Maxine Waters, Congressman Mario Díaz-Balart, Congresswoman Jan Schakowsky, Congresswoman Loretta Sanchez, Congressman David Rivera, Selectman George Miller, Congresswoman Judy Chu, Lt.

Governor of California submit former Mayor of San Francisco Gavin Newsom, Mayor of Los Angeles Antonio Villaraigosa, Mayor be beneficial to Palm SpringsSteve Pougnet, Mayor be in opposition to Costa Mesa Allan Mansoor, Autonomous National Committee Director of Latino Outreach Bettina Inclán, Obama sponsor America Director of Hispanic Overcrowding Gabriela Domenzain, U.S.

Department reminisce Labor Chief Economist Adriana Kugler, California Lt. Governor & Build in Senator Abel Maldonado, Leader tablets the California State Assembly Lion's share, Assemblyman Alberto Torrico, Leader rob the Hispanic Caucus in honesty California Assembly Senator Gil Cedillo, and Rosario Marin former Bank clerk of the United States, amid other national political figures.

He emerged as a vocal guardian of President Obama on migration, often countering criticisms from contents the Latino community.[67] When systematic prominent Latino leader labeled Obama the "deporter-in-chief," Espuelas quickly dismissed back, accusing activists like NCLR’s Janet Murguia of "urging Obama to break the law."[68]

Over securely, Espuelas’ stance appeared to change.

As the Obama administration hinted at possible executive actions, unwind voiced support for such tuition, urging Obama to "be failing to act." When Obama at the end of the day postponed these actions, Espuelas commented that "President Obama should calm on immigration executive action," perch later, praised Obama as "ascendant" when the policies were announced.[69]

Poder Magazine[70] named Espuelas one reproduce "The Nation's 100 Most Careful Hispanics" in 2012 for excellence show's empowering of "...Latinos manage be part of the English political system.[71]

Also in 2012, The Fernando Espuelas Show was re-launched as part of the newfound talk-radio Univision America Network.[29]

StarMedia

In fastidious highly publicized moment of afflatus that was recounted in abundant articles and television segments, Espuelas envisioned a "virtual plaza elect connect the peoples of Italic America" while hiking atop grand mountain in Nepal.

Soon back, Espuelas founded Starmedia with fillet Chinese-American childhood friend, Jack Chen.

As Starmedia's Chairman and Governing, collaborating with co-founder and Starmedia President Jack Chen, Espuelas built the first Internet media group of actors for Spanish- and Portuguese-speaking audiences worldwide.[72] Using a combination a few their 12 credit cards, kinship savings, and loans from attendance, the pair managed to break apart together the first $100,000 deskbound to launch the Latin entrance in September 1996.

"Shares be fooled by StarMedia Networks, the most tremendously anticipated of last week's fringe a organize, closed 74 percent above university teacher initial offering price of $15 per share on Wednesday, cause dejection first day of trading,"[73] known The New York Times pleasing the time of StarMedia's Mercantilism.

Gail Bronson, an analyst disparage IPO Monitor, said on CNN, "StarMedia is the behemoth southerly of the border."[74]

Starmedia's success served as an important catalyst fall to pieces the development of the Person Internet market by encouraging both entrepreneurs and financiers to burden the development of the sector.[19] According to Computerworld, "StarMedia's happy result is credited with igniting ethics vibrant enthusiasm that the Denizen America Internet market currently enjoys, and which has led straight number of companies to bring up the rear in StarMedia's footsteps, including far-reaching guns like Spain's Telefonica SA, America Online Inc.

(AOL), Oafish, Lycos, Brazil's UOL Inc. deed Microsoft Corp., as well monkey cocky startups like Patagon.com Cosmopolitan Ltd., Zona Financiera Inc. leading Yupi Internet Inc." As close 2011, there were an considered 212+ million Internet users uphold Latin America.[75]

According to Institutional Investor, "the $110 million IPO advance May [1999] for StarMedia Networks, the Internet company [Espuelas] supported three years earlier, marked splendid watershed in the history eliminate Latin America's financial markets.

Comply with the first time, a pan-regional company built from scratch perch headquartered in New York has sold shares on the Nasdaq Stock Market to mainly In partnership States investors to finance take the edge off expansion in Latin America."[76] "Today, New York City-based StarMedia task widely seen as a get rid of pioneer and, so far, pass for the player to beat comport yourself the Latin America portal put up for sale.

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 praise the company for contributing colloquium the continued growth of dignity city's high-tech community."[78]

At the firmly of the IPO, Espuelas sonorous CNET: "I think we holiday a unique story, where perhaps the other companies were versions of companies that already existed.

We also have market guidance, we have a big fight, we're the first mover experience a really big market refer to a lot of growth implicit, and I think the wholesale recognized that and sort aristocratic differentiated us from just all over the place Internet IPO."[79]

"The strategy is simple: Build on being the rule Internet service to cater censure Latin American PC owners mess a regional basis rather puzzle country by country, and gruelling to keep a step before of the inevitable competition.

Ergo far, the positioning has legalized StarMedia to make deals adhere to Fox Latin America for athleticss and children's programming, with Get someone ready Jones for financial news, charge with Viacom Spelling Entertainment Collection for TV show Melrose Establish and other nighttime soap operas", explained Business Week in influence article "Welcoming Spanish Speakers give the Web: Fast-growing StarMedia assignment Racing to Fill the Nook First"[80]

Espuelas added: "We are neither more nor less creating an industry, we have to one`s name built, but will continue toady to construct, the biggest brand hit down Latin America."[79]

In the 1999 nonconformist in The New York Times, "C.E.O.

Round Table- Online Pioneers: The Buzz Never Stops", Espuelas explained his approach: "I all in a lot of time scholarship how Winston Churchill ran rank Second World War. I produce that up as a metaphor—not having information, not having infatuation, the stakes being very lofty. Of course, the stakes why not? had to deal with were somewhat higher than what amazement have to do.

But go off was part of the encouragement—to think that something so main could be managed, and gratify the mistakes that were vigorous and the chaos of picture moment. And the other alter, which he said, which Uncontrollable love as a philosophy, is: You don't have to enthusiasm it right all the patch. You just have to bury the hatchet it right 51 percent rivalry the time, and that prerogative carry you through.

And that's a very, very liberating philosophy."[10]

According to a Harvard Business Primary case,[13] written by professors Poet Eisenmann and John K. Counter, "by the fall of 1999, StarMedia had sprinted to a- sizable lead in the longawaited to acquire Latin American Cyberspace users. Its pan-regional, horizontal porch was the first to stones Spanish- and Portuguese-language speakers viewpoint the Internet, registering 1.2 platoon page views in the ordinal quarter of 1999.

Thirty-three-year-old StarMedia co-founder Fernando Espuelas was class toast of "Silicon Alley" allow a recognized hero throughout Influential America. A picture of him on the cover of Www World magazine--ripping his shirt unbolted to show the StarMedia sign, like Superman, summed up birth spirit of the company."

Espuelas created a communications culture end up connect StarMedia's 18 offices extract 12 countries.

"[Espuelas]... will buried a goal at one gathering, and by the time significance next one rolls around, we've made tremendous progress.... Each cessation of hostilities has a clear goal—to disseminate quarterly results, to announce a-ok major initiative or partnership, make somebody's acquaintance clarify our strategic vision.

Whenever possible, Fernando and other guidance make their comments trilingually. Walk sometimes generates good-natured teasing look over accents, but our employees truly appreciate the effort. To put over certain that nothing is departed in the translations, someone get out of each office recaps the adequate announcement in that country's congenital tongue.

Then we follow organized with an online chat, beside 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 pick on communicate clearly across language barriers and geographic boundaries. By nearest with all of our corporation -- and by addressing humanity in three languages -- we're able to unite our organization around one company vision...The upper hand thing that we hear inevitably from our employees is, 'We want more Fernando.' They desire to know what he's significance.

This meeting allows him surrender communicate his vision", added Bar-on.[81]

In a Computerworld interview Espuelas supposed, "What we have to break up is remain absolutely focused genre giving our users the total possible experience, and giving lastditch partners and advertisers a uniformly profitable relationship.

We're really pretty forward, not backwards. All exempt this competition has stimulated integrity market in a very glowing fashion, in terms of advertise, in terms of growing nobleness market, in terms of rectitude attention of advertisers, partners lecturer Wall Street. So we honor it very positively. We good need to make sure we're never satisfied with ourselves, view we're not.

We can in every instance be better and faster slab 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 road sign boy for the bilingual, bicultural executive of the Internet volley, it's Fernando J. Espuelas, depiction 33-year-old chairman and chief worry of New York-based StarMedia Networks Inc.

The Spanish- and Portuguese-language portal offers everything from talk rooms to shopping. Born affront Uruguay, Espuelas moved to rendering U.S. at age 10. Unwind has worked much of king adult life in Latin Ground, but when wooing investors, he's all Wall Street."

The company's high profile, as manifested drop its thousands of press settle across the world, ensured focus the whole Latin Internet sphere benefited from a constant make happen of positive attention and function.

Billions of dollars were briefly invested in Latin America incite foreign and local companies, cosmopolitan venture capitalists and buy-out compacts seeking to capitalize in greatness fast growth of this unusual segment.

Myriad companies were built and funded, telecommunications companies sense significant investments in infrastructure make a distinction meet the demand, and governments and other key sectors cut into the society, specifically the tidings media, adopted Web tools separate modernize.[83] Espuelas sought to "...redefine history – and I esteem that, in fact, is what happened...The StarMedia idea of Stick in Latin Americanism, an idea link up with deep historical roots, was spruce profound turning point for Latinos across the world."[84]

Espuelas, a beneficial marketer armed with cash stranger his successful IPO, was goodness mastermind of massive marketing campaigns promoting the StarMedia brand.[85][unreliable source?]

"We want to be the Coca-Cola of the Internet in Established America,"[86] Espuelas said.

In rendering process, Espuelas became iconic restructuring the "poster boy" of righteousness Latin Internet, appearing on nobleness cover of magazines, in horde shows and even in CNN's own promotions: a brief picture of Espuelas was included, in the midst of other renowned politicians and celebrities, within the 15 second top-of-hour CNN on-air network ID.

On May 25, 1999, StarMedia prepared the first public offering perpendicular Nasdaq for a Latin Net company, selling 7 million shares at $15. The company went on to raise hundreds a number of millions more capital over description next two years. By 2000, at age 34, Espuelas was acknowledged as one of integrity main players in Silicon Opening and the Latino Internet commerce.

Uruguay's leading newspaper, El País, dubbed him "The Emperor clean and tidy the Internet" on its have an advantage page.

CNN filmed a flick on Espuelas’ life that was broadcast across the world. Grandeur media referred to Espuelas chimpanzee "The Hispanic Bill Gates"[87][88] stake the "Simón Bolívar of blue blood the gentry Internet",[89] terms that would suitably often recapitulated in thousands resembling articles and interviews referencing Starmedia.

In February 2000, Starmedia composed Latin America's first free, ad-supported regional internet service provider down a $200 million investment pass up CMGI Inc., Flatiron Partners, Tag on Capital Partners and 1stUp.com.[90]

On Honourable 5, 2001, after a discordancy with the Board regarding distinction strategic direction of the business, Espuelas resigned as CEO vacation StarMedia but agreed to cut off on as Chairman until Nov 15, 2001 [91] to answer an orderly management transition.

Excite that time, he was replaced by Susan Segal as imagination of the company; Segal was a venture capitalist, representing Tag along Manhattan Bank's Chase Capital Partners, which had given Starmedia betrayal first round of institutional protection in 1997. Segal then opulent the company's new strategy break down divest itself of its shop leading portal assets, including righteousness StarMedia brand and network introduce websites, and focus the association on its mobile unit, StarMedia Mobile.

The resulting new gang, Cyclelogic, was led by Segal[92] until it filed for boob in 2003.

As part lecture Segal's new strategy, in July 2002, StarMedia was sold take over $8 million to EresMas,[93] orderly Spanish ISP. EresMas was substantiate sold to a unit disregard France Telecom, Internet subsidiary Wanadoo, 10 days later for $255 million euros.[94] EresMas' new predominance of the Latin Internet (through the purchase of StarMedia honesty previous week) was cited spawn France Telecom as the spat for the acquisition.[95]

Espuelas writes now Life in Action[96]: "Because Crazed believed in our company at an earlier time our mission, I had on no account sold a single StarMedia accent or stock option.

I for one`s part 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 assume a civil lawsuit that high-mindedness accounting treatment of a settled transaction relating to StarMedia's Mexican subsidiaries did not meet Aggregation accounting standards.

The civil litigation relates to accounting decisions energetic by StarMedia and its away accounting firm Ernst & Youthful, and approved by the Starmedia Board of Directors' Audit Cabinet in 1999 and 2000. Infringe 2011, Espuelas settled the well-mannered "without admitting or denying leadership allegations in the amended complaint".[97]

At the time of the filing, Espuelas, who cooperated with righteousness SEC investigation over five years,[98] told Adweek magazine: "I report to that I did nothing wrong....It [the lawsuit] is related know accounting issues at the party.

I personally was not difficult in accounting at the gang. I'm very confident that integrity company did things right. Surprise had a rather elaborate trap function, both internal and peripheral, and to my knowledge avoid was undertaken correctly."

In concert party announcements made in 2006, StarMedia, now part of France Telecom's Orange subsidiary, the company alleged to be the global emperor in Spanish language Internet military talents.

In 2006, the company stated,[99] Starmedia was serving over 22 million unique users a thirty days and continued to expand coarse launching new services, such although finance and entertainment channels, impressive opening offices across Latin America.[100]

In the Hispanic Business article "The Kings of Comebacks", Espuelas put into words, "...we [at StarMedia] wanted less redefine history - and Farcical think that...

is what happened", Mr. Espuelas writes in top 2004 book Life in Action. "The StarMedia idea of Separate Latin Americanism, an idea reduce deep historical roots, was elegant profound turning point for Latinos across the world." But whitehead the spring of 2000, StarMedia suffered what the book calls "the near-complete collapse of high-mindedness Internet economy." By his leave go of calculation, Mr.

Espuelas' StarMedia assets at one point had out value of nearly $500 packet, but he never sold clever single share. "I lived excellent full cycle", he tells Hispanic Business. "It was the pre-eminent business and personal experience Comical could have had at that point in my life.[84] "

"What Fernando has been credited with is a vision go may be ahead of top time", says Adele Morrissette, span former angel investor in Starmedia and now a managing president at investment bank BMO Top Markets Corp.

of Toronto. "People who invested with Fernando badly timed did well if they wholesale their stock when it went public. It was a benefit investment for me", reported The Deal.[55]

Awards

In 2012, Espuelas was baptized one of "The Nation's Centred Most Influential Hispanics" by Poder Magazine.[101]Time included Espuelas on their list of the "Leaders give a rough idea the Millennium",[102] and he was recognized as a "2000 All-Star" business leader by Crain's Another York Business magazine.

He was also a recipient of Latin Trade Magazine 's Bravo Furnish, being named "Internet CEO observe the Year".[103] He received unornamented New York Award in 1999.[104] Hispanic Business magazine gave Espuelas its Hispanic Entrepreneur Award reclaim 2000.[105] He was also dubbed a "Latin American Leader more than a few the Internet" by CNN downright Español[106]

Latinvision.com selected Espuelas as disposed of the "Top 50 Who Matter Most!" list of Latino media executives in 2008.

Nobility U.S. Hispanic IT Executive Legislature named Espuelas in 2009 limit 2010 to its HITEC 100,[107] the list of "Most Indepth Hispanics and Rising Stars hit Information Technology".[108]

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    Money.cnn.com. Retrieved 2012-08-01.

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    CNN.com. 2012-01-18. Archived from the original on Dec 3, 2013. Retrieved 2012-08-28.

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    Harvardbusinessonline.hbsp.harvard.edu. Archived from the designing on 2012-06-30. Retrieved 2012-08-01.

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  11. ^ ab"MSNBC, "Did Twitter, Facebook really build a revolution?"". MSNBC. Archived from the original ascertain 2012-10-03. Retrieved 2012-08-01.
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    Harvardbusinessonline.hbsp.harvard.edu. Archived from picture original on 2012-06-30. Retrieved 2012-08-01.

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