GNET >>> Sony takes equity in Spanish Portal Yupi.Com
Ron, few days ago I brought up the point that GNET needs to move on quickly and launch sites in Spanish and other foreign languages. I suggest GNET should buy MundoMaximo and its country specific sites in Spanish. You suggested GNET should look into Yupi.Com. Today Sony Corp. took an equity stake in Yupi.Com to reach the latino markets. GNET management its still not late to acquire MundoMaximo.Com of Maxplanet (MXNT). This will add millions of Spanish speaking people and would allow the company to compete with Yahoo, Lycos, StarMedia, Quepasa etc.
Just my views.
Sony uses Yupi to reach Latin America
By Bloomberg News
Special to CNET News.com
August 9, 1999, 3:30 p.m. PT
URL: news.com
MIAMI BEACH--Sony Corporation of America, the U.S. unit of the Japanese electronics giant, bought a minority stake in Spanish-language Web site Yupi.com for an undisclosed sum.
Sony said its movie and music units will form alliances with Yupi to "reach Internet users in Latin America," and that Yupi may eventually be an online distributor for Sony music and videos in the region.
"The initial intent is to create a wide variety of promotional opportunities--to use the Internet as a delivery system to reach our Latin American audience," said Keith McCarthy, a spokesman at Sony Music in New York.
Yupi chief executive Oscar Coen wouldn't disclose terms of the sale but said Yupi management and employees will continue to own more than 50 percent of the company. In June, Miami Beach-based Yupi sold a stake of "less than 40 percent" to Interprise Technology Partners and IFX for $13 million.
"Right now, more than 70 percent of the top artists from Latin America are with the Sony label," Coen said. "We believe it will solidify our position as the entertainment hub of the Latin American Internet user."
Yupi has been fighting for market share with companies such as New York-based StarMedia Network and Buenos Aires-based El Sitio. |
