|Phone||+34 914 294 039|
|Venture Round, 3/2010 |
Qualitas Equity Partners
Tuenti is a Madrid-based, social networking website that has been referred to as the “Spanish Facebook.” Tuenti, pronounced in Spanish, sounds like Twenty in English. The name, however, actually comes from “tu enti[dad],” meaning “your entity.” The site is targeted at the Spanish audience.
Zaryn Dentzel, CEO, and Kenny Bentley, the lead programmer, came to Spain after having worked in social networking in the United States. Kenny Bentley is credited with coding most of the original platform from a small office in the north of Madrid in Spring 2006, while Zaryn Dentzel led the project and was involved in much of the design and strategy.
Tuenti features many tools common to social-networking sites. It allows users to set up a profile, upload photos, link videos and connect with friends. Many other utilities, such as the ability to create events, are also offered. Unlike similar social networking sites which feature banner advertisements, Tuenti has opted out of these traditional forms of “noisy” and obstructive advertising.
According to the Google Annual Search Report, “tuenti” was the fourth fastest-rising global search term in 2008, and Alexa Internet ranks the site as one of the top-ten most visited in Spain. It is estimated that there are more than 5 million users, making it the country’s most popular social network.
In August 4, 2010, Tuenti was acquired by Telefonica for â‚¬70 million. The organization now employees from countries around the world, including Spain, the U.S., Sweden, Germany, Poland, the UK and Portugal.