Online retailer for Latinos Espaqol.com secured a multi-million dollar
strategic investment by Telemundo Network Group LLC.
The partnership gives the Spanish-language broadcaster an equity stake in
Espaqol.com, and provides the Latin e-tailer with certain exclusive
promotional and programming opportunities on the network.
As Telemundo
Network’s preferred e-commerce partner, the deal gives Espaqol.com the
dominant share of e-commerce advertising on Spanish-language airwaves.
The Telemundo Network claims to reach 85 percent of Hispanic households in
the United States, spanning 63 markets.
“Telemundo embraces opportunities created by the record number of Latinos
turning to the Internet for information, entertainment and commerce,” said
Alan Sokol, chief operating officer of the Telemundo Network.
“The strategic
alliance with Espaqol.com to our growing portfolio of Internet investments
enables us to deliver the most
desirable products and services to our audience in an authentic Latino
environment.”
Telemundo is the second media company to take stake in Espaqol.com. Grupo
Ferri Rangel, publishers of Puerto Rico’s largest daily El Nuevo Dma,
participated in the
first round of financing.