Miami Beach-based Yupi.com received an equity commitment two weeks ago as part of a new strategic relationship with three divisions of Sony Corp. – Sony Corp. of America, Sony Pictures Entertainment and Sony Music Entertainment.
Oscar Coen, Yupi’s president and chief executive, said the new relationships were intended to help his company access Sony’s technology and entertainment expertise. In particular, he cited Sony’s Internet service provider in Japan, as well as the strength of the Sony brand in Latin America.
“The spirit of the agreement is to use the technology and promotional activities within each group,” Coen said. “
The size of the round was not disclosed, but Coen said each division took a minority stake. No other investors participated in the round. Yupi raised $13 million in April from Interprise Technology Partners and IFX Corp. (PEW May 31, p. 3).
Yupi operates a network of Spanish language content sites that includes a search engine, 12 navigational changes, e-mail, chats, forums, greeting cards, homepage creation and hosting.
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