Quepasa


Quepasa

Infobox_Company
company_name = Quepasa Corporation
company_
company_type = Public (Nasdaq: [http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=QPSA&selected=QPSA QPSA] )
foundation = Phoenix, Arizona (1997)
location = West Palm Beach, Florida
industry = Social Media
key_people = Jeffery Valdez, Chairman, John Abbott CEO
Michael Matte, CFO
Louis Bardov, CTO
Fernando Ascencio, SVP

num_employees = ~75 (2006)
homepage = [http://www.quepasa.com/ www.quepasa.com]

Quepasa is a US-based Spanish and English online community with content and services relating to Hispanics.

About

Headquartered in West Palm Beach, Florida (with offices in Scottsdale, Dallas, Los Angeles, Miami and Mexico), Quepasa Corporation owns Quepasa.com, one of the world's largest, bicultural & bilingual Latino Social Networks on-line. Quepasa.com, along with sister site Corazones.com serves its users in the U.S., Mexico, Latin America and the world both in Spanish and English.

History

Quepasa Corporation, one of the pioneers of Internet en Español, was founded by technology entrepreneur Jeffrey Peterson in 1997. The Company is headquartered in Phoenix, Arizona.

In 1998, Quepasa was successful in raising $20 million from private investors, including television broadcaster Telemundo and Phoenix sports mogul Jerry Colangelo. Noteworthy personalities joined the Board of Directors, including Costa Rican President Jose Maria Figueres and former CNBC Chief Business Commentator William Siedman.

Quepasa had its Initial Public Offering on the Nasdaq Stock Market on June 24,1999, selling 4.6 million shares at $12 per share. By July 1999, Quepasa had raised over $100 million. Quepasa shares registered billions of dollars per month in trading volume on Nasdaq during the dot-com Internet boom.

Growth

In 1999, Quepasa invested tens of millions of dollars in thousands of outdoor Spanish-language billboard advertisements, network radio promotions and various national television brand-building campaigns featuring the music of its then-corporate spokesperson and investor, Gloria Estefan.

At the peak of the Internet boom in the year 2000, market research firm Cheskin Research ranked Quepasa as the most popular destination for U.S. Hispanics, despite costly marketing campaigns by Starmedia and Terra. Shares of Quepasa rose on Nasdaq to a market value of $400 million dollars at their peak.

Management controversy

Shortly after Quepasa went public in late 1999, Quepasa founder Jeffrey Peterson was ousted by a new CEO.

During the .com bust of 2001, Quepasa shares lost practically all of their value on Nasdaq. When existing management attempted to liquidate company assets, Peterson gained control of Quepasa through a successful hostile takeover and proxy fight. He was subsequently reinstated as Chairman and CEO, the title he has held since late 2002.

Events

*June, 1997: Quepasa is incorporated as Internet Century Inc. The business is initially operated as a high end web applications developer, with offices in Las Vegas, Nevada and Los Angeles, California.
*December 18, 1998: Changes name to Quepasa.com, Inc.
*June 24, 1999: Quepasa goes public on Nasdaq, selling 4 million shares at $12. [http://www.bizjournals.com/phoenix/stories/1999/06/21/daily28.html]
*August 2, 1999: New Quepasa CEO Gary Trujillo fires founder Peterson, accusing him of starting a competing venture. [http://money.cnn.com/1999/08/02/technology/quepasa/]
*September, 1999: Quepasa signs Gloria Estefan as its spokesperson, partner, and investor [http://www.bizjournals.com/phoenix/stories/1999/09/06/daily5.html]
*March, 2000: Gateway Computer invests $10 million in Quepasa [http://www.internetnews.com/bus-news/article.php/3_332041]
*April 17, 2000: Cheskin Research ranks Quepasa as #1 for U.S. Hispanics online
*June, 2002: Founder Jeffrey Peterson again gains control of Quepasa through a takeover, reorganizing the business [http://phoenix.bizjournals.com/phoenix/stories/2004/02/02/story2.html]
*March, 2006: Billionaire investor Richard Scott acquires stake in Quepasa [http://www.azcentral.com/arizonarepublic/business/articles/0323quepasa0323.html]

External links

* [http://www.quepasa.com Quepasa]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Jeffrey Peterson — (born October 11, 1972 in Santa Barbara, California) is an American technology entrepreneur and Arizona millionaire who is considered the pioneer of Hispanic Internet in the United States. [ a Latino Web pioneer , Hispanic Magazine , Volume 17;… …   Wikipedia

  • Jeffrey Peterson — Nombre Jeffrey Scott Peterson Nacimiento …   Wikipedia Español

  • Sebastián Piñera — Existen desacuerdos sobre la neutralidad en el punto de vista de la versión actual de este artículo o sección. En la página de discusión puedes consultar el debate al respecto. Sebastián Piñera Echenique …   Wikipedia Español

  • myYearbook — Type Social network service Founder Geoff Cook David Cook Catherine Cook Headquarters …   Wikipedia

  • Medio social (social media) — Este artículo o sección sobre tecnología necesita ser wikificado con un formato acorde a las convenciones de estilo. Por favor, edítalo para que las cumpla. Mientras tanto, no elimines este aviso puesto el 3 de septiembre de 2008. También puedes… …   Wikipedia Español

  • List of Chilean Jews — Jewish immigration to Latin America began with seven sailors arriving in Christopher Columbus s crew. Since then, the Jewish population of Latin America has risen to more than 500,000 more than half of whom live in Argentina, with large… …   Wikipedia

  • Beagle Channel Arbitration — On 1971 July 22 Salvador Allende and Alejandro Lanusse, Presidents of Chile and Argentina, signed an [http://untreaty.un.org/cod/riaa/cases/vol XXI/53 264.pdf Arbitration Agreement of 1971] formally submitting the dispute concerning the… …   Wikipedia

  • Yo Sé Que Mentía — was a 1982 soap opera produced by Puerto Rico s WAPA TV.It included Argentina s Daniel Guerrero, Puerto Rican dancing legend Iris Chacon, a young Adamari Lopez, Amneris Morales and Miguel Angel Suarez and Angela Meyer as a married couple who… …   Wikipedia

  • Colin Farrell — Not to be confused with Colin Farrell (rugby player). Colin Farrell Farrell at the premiere of Ondine at the Tribeca Film Festival, April 28, 2010 Born Colin James Farrell 31 …   Wikipedia

  • Andrés Caicedo — Infobox Writer name = Luis Andrés Caicedo Estela caption = Andrés Caicedo in a picture of Eduardo Carvajal. birthdate = birth date|1951|9|29|mf=y birthplace = Cali, Colombia deathdate = death date and age|1977|3|4|1951|9|29|df=y deathplace = Cali …   Wikipedia