▁Br ons on , ▁an ▁anal yst ▁at ▁IP O ▁Mon itor , ▁said ▁on ▁CNN , ▁" Star Media ▁is ▁the ▁beh em oth ▁south ▁of ▁the ▁border ." ▁ ▁Event ually ▁St arm edia ▁raised ▁over ▁US $ 5 0 0 ▁million ▁in ▁equ ity ▁in ▁a ▁series ▁of ▁private ▁and ▁public ▁offer ings . ▁St arm edia ' s ▁market ▁capital ization ▁reached ▁over ▁$ 3 . 8 ▁billion . ▁ ▁St arm edia ' s ▁success ▁served ▁as ▁an ▁important ▁catal yst ▁in ▁the ▁development ▁of ▁the ▁Latin ▁Internet ▁market ▁by ▁encourag ing ▁both ▁entrepr ene urs ▁and ▁financi ers ▁to ▁back ▁the ▁development ▁of ▁the ▁sector . ▁ ▁According ▁to ▁Computer World , ▁" Star Media ' s ▁success ▁is ▁cred ited ▁with ▁ign iting ▁the ▁v ibr ant ▁enthus ias m ▁that ▁the ▁Latin ▁America ▁Internet ▁market ▁currently ▁enjo ys , ▁and ▁which ▁has ▁led ▁a ▁number ▁of ▁companies ▁to ▁follow ▁in ▁Star Media ' s ▁foot steps , ▁including ▁big ▁guns ▁like ▁Spain ' s ▁Tele fon ica ▁SA , ▁America ▁Online ▁Inc . ▁( A OL ), ▁Y ahoo , ▁Ly cos , ▁Brazil ' s ▁U OL ▁Inc . ▁and ▁Microsoft ▁Cor p ., ▁as ▁well ▁as ▁co ck y ▁start ups ▁like ▁Pat agon . com ▁International ▁Ltd ., ▁Z ona ▁Fin anci era ▁Inc . ▁and ▁Y up i ▁Internet ▁Inc ." ▁ ▁As ▁of ▁ 2 0 1 1 , ▁there ▁were ▁an ▁estimated ▁ 2 1 2 + ▁million ▁Internet