Long Road From Cuba: Manny Medina, CEO of Terremark (Part 7)

SM: How is Latin America going from a broadband adoption point of view?

MM: It is skyrocketing. We opened in Bogotá, Colombia, a year and a half ago and that is going extremely well. We are happy with growth there. We are looking at taking the cloud to Latin America. I think there is tremendous thirst for the cloud there, and because of our positioning we will take it there.

SM: You went from $100 million in 2007 to $187 million in 2008 to $250 million in 2009?

MM: If you want to take it one step back, in March 2006 we had $62 million in revenue and was EBITA break even. In March 2009, we were just north of $250 million in revenue and $62 million in EBITA. With this business model, once you reach the inflection point for every dollar you bring in through the top, you drop $0.55 to the EBITA line.

SM: What is your 2010 forecast?

MM: It is $290 million to $300 million with $80 million to $85 million EBITA.

SM: What should I have asked you about your business that I did not ask?

MM: From the point of view of growth, it is very exciting. I am just as excited now as I was at the beginning of the decade with the adoption of the Internet. It is very exciting for us to see what is happening on the IT side with the adoption of the cloud.

SM: You made the transition from real estate entrepreneur to technology entrepreneur. How has that transition been for you?

MM: I love it. I love to be motivated by learning, and I love to learn.

SM: Why did you learn it all? What you have done is not exactly simple stuff.

MM: Neither is building complicated infrastructure in Saudi Arabia. I just learn by studying a lot. I am an avid consumer of information. I learned the data center business by seeing what my customers were doing. I have a great approach in that I surround myself with the smartest people I can. I am the dumbest guy in the company. All the smart folks around me make me look good.

SM: What about your Cuban origins? How has your background impacted your trajectory?

MM: I came here as a refugee with no money. My mother was a hotel maid and my dad was a cab driver. When you are extremely poor you want to succeed. I was very lucky that I came to where I came. You have to have thirst as an immigrant to succeed. That has been a big part of my life and will always be a part of me.

SM: Have you gone back to Cuba?

MM: I went back one time about 16 years ago. I have not been back since. It was too emotional.

SM: Do you dance?

MM: I do dance. I love salsa and am a great dancer. If you want to hear something really funny, my son is a country music star. Taking a Cuban kid, a first-generation Cuban immigrant, as a country music star . . . that is real news! Forget about me! We Cubans are everywhere.

SM: Congratulations on your success. I have really enjoyed your story.

This segment is part 7 in the series : Long Road From Cuba: Manny Medina, CEO of Terremark
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