Advanced Technology S.A.
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| File:TecAvan.png | |
| Sociedad Anónima | |
| Industry | Telecommunications, E-commerce, cloud computing, artificial intelligence, entertainment, mobile commerce, retail, mobile media, films, TV shows |
| Headquarters | Distrito de las Comunicaciones, Opulencia , |
Area served | Worldwide |
Key people | Isabel Rodríguez (Founder) Patricia González (Chairwoman and CEO) |
| Revenue |  ₧39.2 billion (2023) |
 ₧13.5 billion (2023) | |
| ₧10.7 billion (2023) | |
| Total assets | ₧109.2 billion (2023) |
| Total equity | ₧28.6 billion (2023) |
Number of employees | 521,362 (2023) |
| Subsidiaries | NexCom Telecomunicaciones ConexiónVeritas Comunicaciones Quantum TerraNet AlphaLink Redes OmniTech BandaAncha Skyline Grupo InfraTel Comunicaciones Vórtice Tecnologías Inalámbricas Zenith |
Tecnología Avanzada S.A. (English: Advanced Technology S.A.) or referred to simply as TecAvan is a multinational technology corporation headquartered in Opulencia, Prybourne, specializing in e-commerce, retail, Internet, and technology services. It is one of the corporations that make up the National Conglomerate of Prybourne Established back in 1924, the company offers consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales platforms through both local and international marketplaces. Additionally, Techavon provides digital media, entertainment, logistics, and cloud computing solutions. The corporation manages a diverse array of subsidiary companies across various global sectors.
On 8 March 2018, TecAvan's initial public offering (IPO) on the Opulencia Stock Exchange generated $20 billion, establishing the company's market value at $210 billion, making it one of the largest IPOs in history at that time. It ranks among the top 15 most valuable corporations globally and was listed as the 27th-largest public company in the world on the Forbes Global 2000 2021 list. In November 2020, Techavon surpassed the $450 billion valuation mark, joining the elite club of high-value tech corporations. As of 2023, Techavon holds the tenth-highest global brand valuation. TecAvan stands as one of the world's premier retailers and e-commerce giants. In 2021, the corporation was recognized as the seventh-largest artificial intelligence company globally. It also operates as one of the leading venture capital firms and investment entities worldwide. The company manages the world's largest B2B (Techavon.com), C2C (MercadoLibre), and B2C (SuperTienda) marketplaces.
History
TecAvan was established in 1924 in Opulencia, Prybourne's capital. Founded during a period of significant technological advancements, the company quickly positioned itself as a notable player in the telecommunications sector. The inaugural CEO and co-founder, Isabel Rodríguez, led the company until 1940, overseeing its initial growth and navigating early industry challenges. Elena Vargas took over the leadership in 1955 and remained CEO until 1970. Under her guidance, TecAvan adapted to evolving consumer demands and technological innovations, laying groundwork for future growth. During the post-war economic expansion, TecAvan diversified its product offerings and expanded its market reach. This strategic growth was followed by a period of globalization and digital transformation in the 1970s and 1980s, during which the company expanded its international operations and embraced emerging technologies.
Entering the digital age, TecAvan adapted its business model to capitalize on the opportunities presented by the internet and mobile technology. The company introduced innovative products and services to meet the evolving needs of consumers and businesses, further establishing its reputation as a leader in the digital market. In recent years, TecAvan has continued to innovate and expand its global footprint across various technological domains. Committed to adapting to the ever-changing tech landscape, the company remains focused on delivering technological excellence and maintaining customer satisfaction.
Corporate Governance
Patricia González has been TecAvan's CEO since 2020. María López had stepped down as CEO in 2015 and chose Ana Rodríguez as her successor. The TecAvan Group under Rodríguez was performing well, although there were rumors that López was growing distrustful in Rodríguez's ability to lead the company. Patricia González, who served as COO of TecAvan under Rodríguez, succeeded Rodríguez as CEO in 2017. On 15 July 2019, López chose González to succeed her as executive chairwoman of the TecAvan Group after her stepping down announcement, and this would go into effect on 15 July 2020.
Ownership
Approximately 38% of TecAvan shares are owned by the general public, while roughly 42% are held by institutional investors. About 18% are owned by GlobalTech Ventures. The predominant shareholders as of early 2024 were:
- Quantum Enterprises (7%),
- NovaTech Industries (5%)
- ZenithCorp (4%)
- Visionary Holdings (3%)
- FutureTech Group (2%)
- NexaTech Solutions owning (1%)