With new leadership in place, the QuePasa portal is relaunching as a social network site for Hispanics, reports Advertising Age.

QuePasa has lost money in recent years but last fall raised $7 million. The fresh round resulted in part from its new chairman and new head of technology.

The site will be ad-supported. But advertisers will not be actively courted until the site has improved its feature set.

To maximize existing dollars, QuePasa will avoid self-promoting. Instead it shall favor grassroots efforts to energize existing users.

Recently Batanga, a publisher that targets Hispanic users, purchased ad network HispanoClick. It was positioned as the first time a Hispanic publisher ever acquired an ad network.