Internet group StarMedia Network Inc., largely focused on
Latin America, plans a June start for a low-fee logistics system to deliver
books, computers and other items for sale through its Spanish and Portuguese
Web sites, according to reports.
StarMedia CEO Fernando Espuelas told a conference of Latin American executives
in Miami that StarMedia, which a week ago announced plans for a $75 million,
U.S. public share offering, would make public details of the logistics service
in the coming weeks or months.
The logistics service would charge about half current rates for delivery and
promises to become a significant business for StarMedia, whose revenues now
come overwhelmingly from advertising, according to a Reuters report. The planned service will
involve a partner Espuelas did not identify.
“It will allow us to ship anything to anywhere in Latin America. It will also
allow a buyer to track the shipments online,” Espuelas was quoted as saying.