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Terra (company)

January 30, 2023

Not to be confused with Terra (blockchain).

Terra is a Spanish Internet multinational company owned by Telefónica, with headquarters in Spain and offices in Brazil, Chile, Colombia, Mexico, the United States and Peru. Part of Telefónica Group (the former Spanish public telephone monopoly), Terra operates as a web portal or Internet access provider in the U.S., Spain, and 16 Latin American countries. Founded in 1999 as Terra Networks, S.A., a publicly traded company with Telefónica as its largest shareholder, all outstanding shares were purchased by Telefónica in 2017, making Terra a wholly owned subsidiary.

Terra Networks Brasil, S.A.
Terra
TypeSociedad Anónima
IndustryInternet
PredecessorTerra Networks, S.A.
FoundedMadrid, Spain (January 25, 1999 (January 25, 1999))
FounderJuan Villalonga
Headquarters
Madrid
,
Spain[1]
Area served
Brazil
Key people
David Giner García (CEO)
ServicesWeb portal, Internet service provider, Search engine
ParentTelefónica, S.A.
Websitewww.terra.com.br

History

Terra was founded in 1999 as Terra Networks, S.A. by Juan Villalonga, Telefónica's president between 1996 and 2000, and grew in size through the acquisitions of several local startups in Spain and the main Latin American markets: Olé (Spain), ZAZ (Brazil), Mexico, Gauchonet, Donde (Argentina) and Chevere (Venezuela).

Terra has created several digital portals, like Invertia,[2] a successful finance portal, and Educaterra[3] (e-learning). It also has had or has stakes in other Internet ventures: Uno-e[4] (online banking), Rumbo[5] (travel, in partnership with Amadeus), Atrea[6] (real estate, in partnership with Spanish bank BBVA), and more.

In November 1999, still during the period known as the "Internet bubble", Terra had a high-profile IPO both in the U.S. and Spain, and its shares skyrocketed.[7] After that, the price fell sharply until it reached 2.75 euros in October 2004.[citation needed] This process sparked a lot of public controversy in Spain, where thousands of small investors acquired shares of Terra during the boom.

During 2003 and 2004 Terra expanded aggressively into the paid content business, mainly in Spain, Brazil, and Chile, launching ventures with Disney and Spanish football clubs Real Madrid and FC Barcelona. It also started several entertainment services, including an online multiplayer gaming platform (Terra Games) and a digital music service (Terra Música Premium) similar to Apple Computer's iTunes.

Terra and Lycos

In April 2000, Terra acquired Lycos, a U.S. portal, in a stock swap valued at US$12.5 billion.[8] By that time, Lycos was the third most visited portal in the U.S.[citation needed], and had a strong presence in key European and Asian markets. Lycos CEO Bob Davis was moved to the position of CEO of the combined company, from where he stepped down in January 2001, being replaced by then Chairman Joaquim Agut.[9]

Part of the deal was also German media giant Bertelsmann, owner of a stake in Lycos Europe. In exchange for keeping the control over Lycos Europe, Bertelsmann agreed to spend US$1 billion worth in advertising at Terra Lycos through a five-year period.[10] That spending was crucial for Terra to survive the times of the Internet crash, when several Latin American-based Internet companies like Quepasa,[11] Starmedia[citation needed] or El Sitio[citation needed] lost cash up to the point of filing for bankruptcy or being taken over by bigger companies.

In 2003 Bertelsmann executed an option to get itself out of the agreement, transferring to Terra's parent company Telefónica the obligation to keep the ad spending. Soon after that, Telefónica decided to get more control over Terra and launched an offer for shares of Terra still floating on the stock market. Although it granted Telefónica control over more than 70% of Terra's stock, the move was not successful enough to let Telefónica take Terra out of the public, as was allegedly its objective.

In October 2004, following Telefónica's decision to re-focus their businesses, Terra sold Lycos to South Korean Internet portal company Daum Communications for US$105 million. Kim Faura was Terra's last chairman. Joaquim Agut was the previous one, and now he is chairman of Endemol.

Telefonica take-over

In February 2005, Telefónica announced its intention of taking full control of Terra by giving Telefónica' shares in exchange for Terra's remaining shares in the stock market. After this plan was approved by both Telefónica and Terra shareholders meetings, Terra's shares were finally excluded from the market on July 15, 2005.

Terra Networks S.A. was then merged into Telefónica, S.A. and, therefore, disappeared from a legal point of view.[12] A small portion of the former corporate headquarters became "Terra Networks Asociadas, S.L.U." (a new company) and local Terra operations (and assets) were transferred to local fixed-line Telefónica companies.

Terra.com

Terra was the largest Latin American online media company, ranked as the 31st most popular Internet destination in the world.[citation needed] The website primarily provided entertainment, news and sports to approximately 100 million monthly visitors, Terra was named as one of the most innovative company in the music area by Fast Company in 2011.[13]

It has offices in cities such as São Paulo and Porto Alegre (BRA).[citation needed]

References

  1. ^ Terra Headquarter
  2. ^ "Invertia - El Diario Económico de EL ESPAÑOL". El Español.
  3. ^ Educaterra.com
  4. ^ "BBVA ESPAÑA". www.bbva.es. April 23, 2021.
  5. ^ "Flights, Hotels, Breaks and Holidays". Rumbo.
  6. ^ "ATREA s.r.o. - Air-handling equipment, heat recovery". www.atrea.com.
  7. ^ "Spanish Net IPO price raised - Nov. 12, 1999". money.cnn.com. Retrieved 2022-09-03.
  8. ^ "Lycos in $12.5B deal - May 16, 2000". money.cnn.com. Retrieved 2022-09-03.
  9. ^ "Bob Davis steps down as Terra Lycos CEO". ZDNET. Retrieved 2022-09-03.
  10. ^ Hansell, Saul (2000-05-17). "Phone Giant Buys Lycos for $12.5 Billion". The New York Times. ISSN 0362-4331. Retrieved 2022-09-03.
  11. ^ Roundup, A. WSJ com News (2000-12-28). "Quepasa.com Board Approves Plan to Liquidate Web Company". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-09-03.
  12. ^ "MERGER PLAN OF TELEFÓNICA, S.A. and TERRA" (PDF). Telefónica. Retrieved 2022-09-03.
  13. ^ "Terra.com: Most Innovative Company". Fast Company. Retrieved 2022-09-03.
  • "Terra shuts down U.S., Spain and Latin America Spanish-language portals". July 4, 2017.

External links

  •   Media related to Terra (company) at Wikimedia Commons
  • Terra Brazil
  • terra Mexico
  • Terra Chile
  • Terra Colombia
  • Terra USA

January 30, 2023
terra, company, confused, with, terra, blockchain, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, terra, company, n. Not to be confused with Terra blockchain This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Terra company news newspapers books scholar JSTOR September 2011 Learn how and when to remove this template message Terra is a Spanish Internet multinational company owned by Telefonica with headquarters in Spain and offices in Brazil Chile Colombia Mexico the United States and Peru Part of Telefonica Group the former Spanish public telephone monopoly Terra operates as a web portal or Internet access provider in the U S Spain and 16 Latin American countries Founded in 1999 as Terra Networks S A a publicly traded company with Telefonica as its largest shareholder all outstanding shares were purchased by Telefonica in 2017 making Terra a wholly owned subsidiary Terra Networks Brasil S A Trade nameTerraTypeSociedad AnonimaIndustryInternetPredecessorTerra Networks S A FoundedMadrid Spain January 25 1999 January 25 1999 FounderJuan VillalongaHeadquartersMadrid Spain 1 Area servedBrazilKey peopleDavid Giner Garcia CEO ServicesWeb portal Internet service provider Search engineParentTelefonica S A Websitewww wbr terra wbr com wbr br Contents 1 History 2 Terra and Lycos 3 Telefonica take over 4 Terra com 5 References 6 External linksHistory EditTerra was founded in 1999 as Terra Networks S A by Juan Villalonga Telefonica s president between 1996 and 2000 and grew in size through the acquisitions of several local startups in Spain and the main Latin American markets Ole Spain ZAZ Brazil Mexico Gauchonet Donde Argentina and Chevere Venezuela Terra has created several digital portals like Invertia 2 a successful finance portal and Educaterra 3 e learning It also has had or has stakes in other Internet ventures Uno e 4 online banking Rumbo 5 travel in partnership with Amadeus Atrea 6 real estate in partnership with Spanish bank BBVA and more In November 1999 still during the period known as the Internet bubble Terra had a high profile IPO both in the U S and Spain and its shares skyrocketed 7 After that the price fell sharply until it reached 2 75 euros in October 2004 citation needed This process sparked a lot of public controversy in Spain where thousands of small investors acquired shares of Terra during the boom During 2003 and 2004 Terra expanded aggressively into the paid content business mainly in Spain Brazil and Chile launching ventures with Disney and Spanish football clubs Real Madrid and FC Barcelona It also started several entertainment services including an online multiplayer gaming platform Terra Games and a digital music service Terra Musica Premium similar to Apple Computer s iTunes Terra and Lycos EditIn April 2000 Terra acquired Lycos a U S portal in a stock swap valued at US 12 5 billion 8 By that time Lycos was the third most visited portal in the U S citation needed and had a strong presence in key European and Asian markets Lycos CEO Bob Davis was moved to the position of CEO of the combined company from where he stepped down in January 2001 being replaced by then Chairman Joaquim Agut 9 Part of the deal was also German media giant Bertelsmann owner of a stake in Lycos Europe In exchange for keeping the control over Lycos Europe Bertelsmann agreed to spend US 1 billion worth in advertising at Terra Lycos through a five year period 10 That spending was crucial for Terra to survive the times of the Internet crash when several Latin American based Internet companies like Quepasa 11 Starmedia citation needed or El Sitio citation needed lost cash up to the point of filing for bankruptcy or being taken over by bigger companies In 2003 Bertelsmann executed an option to get itself out of the agreement transferring to Terra s parent company Telefonica the obligation to keep the ad spending Soon after that Telefonica decided to get more control over Terra and launched an offer for shares of Terra still floating on the stock market Although it granted Telefonica control over more than 70 of Terra s stock the move was not successful enough to let Telefonica take Terra out of the public as was allegedly its objective In October 2004 following Telefonica s decision to re focus their businesses Terra sold Lycos to South Korean Internet portal company Daum Communications for US 105 million Kim Faura was Terra s last chairman Joaquim Agut was the previous one and now he is chairman of Endemol Telefonica take over EditIn February 2005 Telefonica announced its intention of taking full control of Terra by giving Telefonica shares in exchange for Terra s remaining shares in the stock market After this plan was approved by both Telefonica and Terra shareholders meetings Terra s shares were finally excluded from the market on July 15 2005 Terra Networks S A was then merged into Telefonica S A and therefore disappeared from a legal point of view 12 A small portion of the former corporate headquarters became Terra Networks Asociadas S L U a new company and local Terra operations and assets were transferred to local fixed line Telefonica companies Terra com EditTerra was the largest Latin American online media company ranked as the 31st most popular Internet destination in the world citation needed The website primarily provided entertainment news and sports to approximately 100 million monthly visitors Terra was named as one of the most innovative company in the music area by Fast Company in 2011 13 It has offices in cities such as Sao Paulo and Porto Alegre BRA citation needed References Edit Terra Headquarter Invertia El Diario Economico de EL ESPANOL El Espanol Educaterra com BBVA ESPANA www bbva es April 23 2021 Flights Hotels Breaks and Holidays Rumbo ATREA s r o Air handling equipment heat recovery www atrea com Spanish Net IPO price raised Nov 12 1999 money cnn com Retrieved 2022 09 03 Lycos in 12 5B deal May 16 2000 money cnn com Retrieved 2022 09 03 Bob Davis steps down as Terra Lycos CEO ZDNET Retrieved 2022 09 03 Hansell Saul 2000 05 17 Phone Giant Buys Lycos for 12 5 Billion The New York Times ISSN 0362 4331 Retrieved 2022 09 03 Roundup A WSJ com News 2000 12 28 Quepasa com Board Approves Plan to Liquidate Web Company Wall Street Journal ISSN 0099 9660 Retrieved 2022 09 03 MERGER PLAN OF TELEFoNICA S A and TERRA PDF Telefonica Retrieved 2022 09 03 Terra com Most Innovative Company Fast Company Retrieved 2022 09 03 Terra shuts down U S Spain and Latin America Spanish language portals July 4 2017 External links Edit Media related to Terra company at Wikimedia Commons Terra Brazil terra Mexico Terra Chile Terra Colombia Terra USA Retrieved from https en wikipedia org w index php title Terra company amp oldid 1115604157, wikipedia, wiki, book, books, library,

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