. ▁ ▁Star Media ▁In ▁a ▁highly ▁public ized ▁moment ▁of ▁insp iration ▁that ▁was ▁rec ount ed ▁in ▁numerous ▁articles ▁and ▁television ▁segments , ▁Esp uel as ▁en vision ed ▁a ▁" virtual ▁pla za ▁to ▁connect ▁the ▁pe op les ▁of ▁Latin ▁America " ▁while ▁h ik ing ▁at op ▁a ▁mountain ▁in ▁Nep al . ▁So on ▁after , ▁Esp uel as ▁founded ▁St arm edia ▁with ▁his ▁Chinese - American ▁child hood ▁friend , ▁Jack ▁Chen . ▁ ▁As ▁St arm edia ' s ▁Chair man ▁and ▁CE O , ▁collabor ating ▁with ▁co - found er ▁and ▁St arm edia ▁President ▁Jack ▁Chen , ▁Esp uel as ▁created ▁the ▁first ▁Internet ▁media ▁company ▁for ▁Spanish - ▁and ▁Portuguese - spe aking ▁aud ien ces ▁world wide . ▁Using ▁a ▁combination ▁of ▁their ▁ 1 2 ▁credit ▁cards , ▁family ▁sav ings , ▁and ▁lo ans ▁from ▁friends , ▁the ▁pair ▁managed ▁to ▁piece ▁together ▁the ▁first ▁$ 1 0 0 , 0 0 0 ▁used ▁to ▁launch ▁the ▁Latin ▁portal ▁in ▁September ▁ 1 9 9 6 . ▁ ▁" Sh ares ▁of ▁Star Media ▁Network s , ▁the ▁most ▁highly ▁anticip ated ▁of ▁last ▁week ' s ▁offer ings , ▁closed ▁ 7 4 ▁percent ▁above ▁its ▁initial ▁offering ▁price ▁of ▁$ 1 5 ▁per ▁share ▁on ▁Wed nes day , ▁its ▁first ▁day ▁of ▁trad ing ," ▁reported ▁The ▁New ▁York ▁Times ▁at ▁the ▁time ▁of ▁Star Media ' s ▁IP O . ▁ ▁G ail