Narcisco hoisted to CEO at StarMedia

Cyberbiz Brief

Internet company StarMedia Network upped prexy Enrique Narcisco to CEO, replacing founder Fernando Espuelas, who remains chairman.

Narcisco was named prexy June 1 and was charged with managing operations and strategy at the Spanish- and Portuguese-lingo Internet company. Previously, he was general manager of StarMedia Mobile.

For the second quarter of 2001, New York-based StarMedia reported revenue rose 3% to $14.2 million. Its net loss widened to $48 million, compared with $41.5 million a year ago. However, the second-quarter 2001 loss includes expenses associated with cost-cutting and layoffs, losses in subsidiaries and stock-related costs.

In June, StarMedia had 23.2 million unique users worldwide, down 34% from March, a decline StarMedia attributed to its effort to cut costs associated with network applications. StarMedia’s main markets are the U.S. Hispanic market, Mexico and Brazil.

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