▁users ▁in ▁Latin ▁America . ▁ ▁According ▁to ▁Institution al ▁In vest or , ▁" the ▁$ 1 1 0 ▁million ▁IP O ▁in ▁May ▁[ 1 9 9 9 ] ▁for ▁Star Media ▁Network s , ▁the ▁Internet ▁company ▁[ Esp uel as ] ▁founded ▁three ▁years ▁earlier , ▁marked ▁a ▁waters hed ▁in ▁the ▁history ▁of ▁Latin ▁America ' s ▁financial ▁mark ets . ▁For ▁the ▁first ▁time , ▁a ▁pan - reg ional ▁company ▁built ▁from ▁scratch ▁and ▁head qu arter ed ▁in ▁New ▁York ▁has ▁sold ▁shares ▁on ▁the ▁Nas da q ▁Stock ▁Market ▁to ▁mainly ▁United ▁States ▁invest ors ▁to ▁fin ance ▁its ▁expansion ▁in ▁Latin ▁America ." ▁▁ ▁" T od ay , ▁New ▁York ▁City - based ▁Star Media ▁is ▁widely ▁seen ▁as ▁a ▁market ▁pione er ▁and , ▁so ▁far , ▁as ▁the ▁player ▁to ▁beat ▁in ▁the ▁Latin ▁America ▁portal ▁market . ▁The ▁company ▁has ▁about ▁ 7 0 0 ▁employees , ▁operations ▁in ▁ 9 ▁countries ▁and ▁partners hips ▁with ▁companies ▁such ▁as ▁AT & T , ▁Vis a ▁International ▁Inc . ▁and ▁H ew lett - Pack ard ▁Co ," ▁added ▁Computer World . ▁ ▁Spe aking ▁to ▁The ▁New ▁York ▁Times , ▁New ▁York ▁Mayor ▁Rud olph ▁W . ▁Giul iani ▁said ▁" I ▁app la ud ▁the ▁company ▁for ▁contrib uting ▁to ▁the ▁continued ▁growth ▁of ▁the ▁city ' s ▁high - tech ▁community ." ▁▁ ▁At ▁the ▁time ▁of ▁the ▁IP O , ▁Esp uel as ▁told ▁C NET