L90 Reaches Latin American, US Hispanic Markets
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Internet advertising and marketing firm L90 on Thursday opened the doors on a new division -- L90Latino -- that aims to reel in advertisers and publishers hoping to reach the US Hispanic and Latin American markets.
Lee Vann, who developed business models targeting this market while at Windamere Venture Partners, will head up the L90 (LNTY) division as vice president. Vann's international experience includes a stint in Madrid, Spain, where he lived from 1994 to 1998, working as country manager for a biotech company.
Josef Vann, who was most recently vice president of multicultural media at Western International Media, joins the division as vice president of business development and sales. Alex Fino, who has served as senior media and strategic analyst for Western and Ad Americas, takes the job of director of business development and sales for L90Latino.
"L90Latino gives us the ability to leverage L90's proven business model in the growing Latino online marketplace," said John Bohan, president and chief executive officer of L90.
In recent months, a large number of players have sprung up that target the US Hispanic and Latin American markets, and L90 is joining that wave. Publishers include StarMedia, Eritmo.com, and El Sitio. Others in the advertising and marketing space include HispanAmerica and Adsmart, the CMGI company which has been operating the Hispanic-oriented ad network NetFuerza for more than a year.
All of these players are trying to take advantage of the growth of the Internet in Latin America, as well as the increase in the Hispanic population in the United States. According to Forrester Research, online advertising in Latin America alone is projected to grow from $51 million in 1999 to more than $1.5 billion in 2004.