Telefónica's Terra Buys Venezuelan Portal

FORT LAUDERDALE, FLA. (03/10/2000) - Terra Networks SA continued its Web portal expansion in Latin America with the purchase today of Venezuelan portal Chévere.

The companies didn't disclose the terms of the deal.

Terra, the Internet subsidiary of Spain's giant telecommunications carrier Telefónica SA, already operates portals, as well as ISPs (Internet service providers), in Brazil, México, Chile, Perú, Guatemala and the U.S. The company also operates a portal, but not an ISP, in Argentina.

Chévere, founded in 1996, has over 600,000 users and a monthly page-view total of 3 million pages. It has categorized over 11,000 Venezuelan Web sites, has a search engine, offers free e-mail and chat services.

There were about 300,000 Internet users in Venezuela in 1999, a figure expected to rise to 3.8 million by 2005, according to Jupiter Communications Inc. in New York. Venezuela's population is estimated at about 23 million.

A total of about 1.3 million users subscribe to Terra's various ISPs. Its portals draw about 38 million visits per month, and generate about 434 million page-views, according to the company.

Terra, in Madrid, can be reached at http://www.terra.es/. Chévere, in Caracas, is at http://www.chevere.com/.

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