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OMB APPROVAL
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OMB Number: 3235-0145
Expires: August 31, 1999
Estimated average burden
hours per response.......14.90
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
StarMedia Network, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
855546 10 7
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(CUSIP Number)
December 31, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the following box to designate the rule pursuant to which the Schedule is
filed:
|_| Rule 13d-1(b)
|_| Rule 13d-1(c)
|X| Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
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CUSIP NO. 855546 10 7
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1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Fernando J. Espuelas
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3. SEC Use only
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4. Citizenship or Place of Organization Uruguay
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Number of 5. Sole Voting Power 6,287,614
Shares ---------------------------------------------------------------
Beneficially 6. Shared Voting Power 962,386
Owned by Each ---------------------------------------------------------------
Reporting 7. Sole Dispositive Power 6,287,614
Person With: ---------------------------------------------------------------
8. Shared Dispositive Power 962,386
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 7,250,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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11. Percent of Class Represented by Amount in Row (9) 10.8%
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12. Type of Reporting Person (See Instructions) IN
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ITEM 1.
(a) Name of Issuer
StarMedia Network, Inc.
(b) Address of Issuer's Principal Executive Offices
29 West 36th Street, Fifth Floor
New York, NY 10018
ITEM 2.
(a) Name of Person Filing
Fernando J. Espuelas
(b) Address of Principal Business Offices or, if none, Residence
29 West 36th Street, Fifth Floor
New York, NY 10018
(c) Citizenship
Uruguay
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
855546 10 7
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
N/A
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned: 7,250,000.
(b) Percent of Class: 10.8%.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 6,287,614.
(ii) Shared power to vote or to direct the vote: 962,386.
(iii) Sole power to dispose or to direct the disposition
of: 6,287,614.
(iv) Shared power to dispose or to direct the disposition
of: 962,386.
INSTRUCTION: For computations regarding securities which represent a
right to acquire an underlying security SEE ss.240.13d-3(d)(1).
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
N/A
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
N/A
ITEM 10. CERTIFICATION
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that that information set forth in this statement is true, complete and
correct.
FEBRUARY 14, 2000
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Date
/s/ Fernando J. Espuelas
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Signature
FERNANDO J. ESPUELAS, CHAIRMAN OF THE BOARD AND
CHIEF EXECUTIVE OFFICER
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Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power or attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See ss.240.13d-7
for other parties for whom copies are to be sent.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)