Vostu launched at the end of February and joins Hispanito, Elhood and Lazona in targeting the Spanish speaking and Latin American audience with MySpace-like social networking. Harvard, where Facebook was founded, is also the incubator for Vostu. The founding team includes Harvard students Daniel Kafie, Joshua Kushner, and Mario Schlosser. Currently, membership is invite only and comprises 800 members, 600 equally distributed between Peru, Mexico and Argentina and the remainder between the United States and other countries. I refer you to the Boston Globe article which has detail on their strategy and features.