Quepasa

Quepasa Corporation emerged in 1997 as a pioneering digital platform targeting the U.S. Hispanic and broader Latin American markets. Founded by Jeffrey Peterson and co-founded by Michael Silberman, the company initially launched as a web portal, capitalizing on the nascent internet boom. Peterson, who began his career at Lehman Brothers, identified the untapped potential of the Hispanic online community and secured significant early-stage investment, reportedly over $20 million, from notable figures like television network Telemundo and sports executive Jerry Colangelo.

The company's trajectory was marked by rapid growth and significant market presence. On June 24, 1999, Quepasa went public on the Nasdaq, with its market value reaching as high as $400 million at its peak during the dot-com era. Extensive marketing campaigns, including television spots featuring spokesperson and investor Gloria Estefan, helped establish Quepasa as a leading online destination for U.S. Hispanics. The platform evolved from a portal to a social network, accumulating over 30 million users by 2011. Its business model centered on advertising, later expanding to include social gaming and a social media advertising solution called Quepasa Contests. To bolster its offerings, Quepasa acquired Techfront, a social game development studio, and launched titles like "Wonderful City - Rio".

Despite its initial success, Quepasa experienced periods of volatility, including management controversies that saw founder Jeffrey Peterson ousted and later return to the company. The dot-com crash severely impacted its stock value, leading to a near-liquidation before Peterson and Silberman regained control. The firm's focus was always on serving the bicultural and bilingual Latino community, offering a platform for social interaction and content consumption in Spanish, English, and Portuguese. In 2011, Quepasa merged with myYearbook in a deal valued at $100 million. This led to a strategic rebranding, and in 2012, Quepasa Corporation became MeetMe, Inc., consolidating its various platforms under a single brand focused on social discovery. The original Quepasa.com site was eventually suspended as users were transitioned to the new MeetMe platform, marking the end of its operations under the original name.

Keywords: Quepasa, Jeffrey Peterson, Michael Silberman, Hispanic social network, Latino online community, dot-com boom, social discovery, MeetMe Inc., myYearbook merger, social gaming, online advertising, public company, Nasdaq, Latin American market, bicultural platform, web portal, social media history, Techfront acquisition