Terra Networks Logo – Terra Networks SA was a subsidiary dedicated to Internet content and Internet portals of the Telefónica Group of Spain . It was founded in 1999. In mid- 2004 , Terra Networks , at its shareholder meeting, decided to integrate all its assets and subsidiaries within the Telefónica group. In 2005 , Telefónica joined Terra Networks within the group.
Terra was founded following the acquisition of Spanish search Olé in 1999 by Juan Villalonga , chairman of Telefónica between 1996 and 2000 , rapidly becoming a major player in the market of Internet services due to the purchase of several Latin American companies, as ZAZ ( Brazil ), Infosel ( Mexico ), GauchoNet and Where (both from Argentina ) and to the creation and launch of portals in the United States , Colombia , Chile , Peru , Honduras , Nicaragua and other countries to become the Internet leader in the market Spanish-speaking.On 17 November 1999 goes public in an Initial Public Offering of Securities ( IPO ) in both the U.S. and in Spain at an initial price of 11.81 euros output. Terra titles were released in exchange with a spectacular increase of 213.3 percent, earning him entry into the selective Ibex-35 in January 2000.
Getting the price of the Telefónica subsidiary up to € 157.65 registered on 14 February 2000 allowed the Internet operator placed among the top ten Spanish companies with market capitalization in just a staggering three months. After that period, the Internet bubble deflated and the lowest price from € 157.65 € gradually to 2.75 in October 2005 .