Word: starmedia
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...continent's dismal communications infrastructure. Fewer than 2 million Latin Americans use wireless Internet technology today, but the Washington-based Strategis Group forecasts that by 2007, 48 million will. That's a key reason Atlanta-based telecom giant BellSouth this summer spent $25 million for an 11% stake in StarMedia. It hopes to use the ailing multilingual Latin American Web portal as a launching pad for services like e-mail on mobile Internet--"for those epic traffic jams we all know so well in Sao Paulo," says BellSouth's Latin American director, Roberto Peon...
...executives at the top of the Internet food chain to convert that low-cost enthusiasm and work-is-play lifestyle into publicly traded companies worth millions of dollars. And a number have succeeded: TheGlobe.com's chairman Michael Egan is worth about $200 million; StarMedia CEO Fernando Escuelas, 32, now has a net worth of $256 million. Josh Harris, chairman and founder of Pseudo.com stands to make millions when Pseudo goes public later this year...
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