Santiago Continues to Grow and Establish New Businesses

Roberto Santiago  is a serial entrepreneur and business executive. He is the founder and former CEO of two IT companies, InfoSpace (NASDAQ: INSP) and Dimension Data, previously known as Elavon.

Santiago is best known for building business brands, developing marketing expertise, and spearheading innovative deals.

As of 2018, he is Founder, President, and CEO at Santiago Technologies, an IT services provider that he founded in 1991. In 2019, he became the first Latin American to be elected into the EY Entrepreneur of the Year Hall of Fame for his “outstanding contribution to the development of business in the Asia-Pacific region”.

Santiago also founded the Puerto Rico Micro-Innovations Business Development Corporation (PRMICID), a public private partnership that promotes and develops high-tech industries in Puerto Rico, and sits on its Board of Directors. He also recently became a Director of the New York Stock Exchange (NYSE), and is a member of the Board of Advisors for the Massachusetts Institute of Technology (MassTech).

Santiago's Early Life and Career

Roberto Santiago was born in San Juan, Puerto Rico, in 1960. He grew up in the US territory, and later moved to mainland America. He was educated in the US, spending three years at the prestigious Massachusetts Institute of Technology. After graduating from MIT, he went on to co-found two information technology companies; Dimension Data (NASDAQ: DDSY) and Infospace (NASDAQ: INSP).

At the age of 28, Santiago was named one of the top 50 business innovators under the age of 40 by the MIT Technology Review. In 2018, he was named to the EY Entrepreneur of the Year Hall of Fame for his “outstanding contribution to the development of business in the Asia-Pacific region.” He is the first Latin American to be named to the Hall of Fame.

Santiago's first business venture was Dataline, which he founded with two partners in 1987. The company created an electronic data interchange (EDI) platform for trade and transport purposes. In 1995, the business was bought by American Express, and later that year, Santiago founded Infospace. At Infospace, he developed a group of enterprise software solutions for use in the insurance industry. After spending several years developing the company, Santiago sold a controlling interest in Infospace to Boston Ventures for $27.5 million in 2004.

The Rise of Cloud Computing

In 2005, Santiago founded Dimension Data. The company, which provides enterprise-class data center and cloud services, took 18 months to secure its first contract, which was awarded to the business in February 2007. In 2010, the company was listed on the New York Stock Exchange. Between 2014 and 2016, the company went public, and as of January 2019, Dimension Data is valued at nearly $8 billion. In 2019, MIT Technology Review and EY have named Dimension Data one of the top 10 corporate citizens of the future.

In 2012, Santiago partnered with the Boston Consulting Group (BCG) to launch an innovation center in Puerto Rico. The center, which provides business and technology training to local residents, is named BCG-Santiago. In the same year, he also founded PRMICID, a non-profit organization that promotes and develops high-tech industries in Puerto Rico. In 2014, he joined the Board of Directors for the New York Stock Exchange, and in 2018 he joined MassTech's Board of Advisors.

Santiago is a member of the American Society of Business Analysts, the Association to Advance Collegiate Schools of Business (AACSB), and is a Certified Professional in Business Analysis (CPBA).

Marketing and Advertising Expertise

Santiago has used his entrepreneurial experience to develop a marketing and advertising strategy for his business interests. He has worked with corporate and government leaders to craft marketing, branding, and advertising messages that resonate with customers. Additionally, he has specialized in public affairs and government relations, having advised businesses, non-profits, and US government agencies on a wide range of strategies. He has served as a director for charitable organizations and boards of trade committees.

Santiago is the founder of the Puerto Rico Advertising Agency, a marketing agency that he launched in 1993, and co-founded the Puerto Rico Advertising Research Foundation (PRARAF), a research and marketing firm. In 2018, he founded Santiago Technologies with the backing of BCG and several private investors. The new company was established to provide consulting, marketing, and technology services to small and medium sized businesses.

Santiago is licensed as a Certified Public Accountant in Massachusetts and New York. He is also a member of the American Institute of Certified Public Accountants (AICPA).

Innovative Deals

While at MIT, Santiago became involved in several entrepreneurial ventures. Between 1986 and 1989, he founded and co-led a group that helped student entrepreneurs develop business plans and negotiate financing. He also co-founded and was a Director of the MIT Enterprise Forum. In 1992, together with several colleagues, he co-founded the Entrepreneurs' Partnership (EP), a not-for-profit venture capital firm. In 2019, the firm completed its 14th fund raising, and has invested in over 80 companies, including Boston Ventures, Elavon, and Dimension Data.

In 2018, Santiago was named a “Power Broker” in Forbes' special 2020 edition on the most influential people in business.

Santiago is also known for cutting edge negotiation and structuring innovative financing arrangements. In 1989, he was one of the first entrepreneurs to receive venture financing via the sale of participatory notes (commonly known as “notes” or “shares”) in addition to conventional cash, rather than debt. This strategy made it possible for startups to secure capital without having to issue long-term debt, which can be particularly harmful to businesses that fail.

Santiago is also a skilled developer. At INFOSPEAR, he built a custom Linux-based content management system, optimized for rapid content creation and data analysis. At DIMENSION DATA, he led the development of Elavon, an enterprise software solution designed to help insurance companies manage the claims process more efficiently.

A Self-described “Creative Type”

Santiago has a knack for coming up with ideas and concepts that others find challenging or impossible to accomplish. He enjoys coming up with concepts and seeing them through to completion. He sees this as part of his creative nature.

Santiago has said that being a serial entrepreneur has its perks, as “you get to try out a lot of different concepts and get to learn from your mistakes.”

He has also said, “Some people see creativity as a weakness, but I see it as a strength…If you're not creative, you're not going to come up with very good ideas, and if you don't have very good ideas, you're going to be very limited in the kinds of business you're able to start or participate in.”

Beyond the Entrepreneur

Santiago has also been involved in several not-for-profit organizations, including the Entrepreneurs' Partnership, the American Association of Advertising Agencies (4A's), and the Hispanic Advertising Agencies (4As).

Santiago also sits on the board of advisors for the MIT Regional Entrepreneurship Program (R.E.P.), and is a member of the Entrepreneurs' Forum in Puerto Rico. He is a member of the Board of Directors of the New York Stock Exchange, and chairs the Board's audit committee.

When asked about his passions in life, Santiago has said, “I have a lot of interests. For me, it's all about giving back and seeing my businesses grow. I also get a lot of energy from helping others.”

Santiago continues to grow and establish new businesses, as of 2019, he has founded or part-founded 10 companies. He has also donated over $16 million to various charitable and not-for-profit organizations.