Tag Archives: myYearbook
Quepasa Merges with myYearbook for $100 Million
Quepasa, the Latin audience-focused social network, has merged with myYearbook. The deal is $82 million in stock and $18 million in cash, and the merger brings the duo to 70 million combined registered users. Geoff Cook, CEO of myYearbook, joins Quepasa’s board of directors as Chief Operating Officer and president of the consumer internet division. Quepasa CEO John Abbott will remain at the head of the company. [TechCrunch]
Categories Geoff Cook, John Abbott, myYearbook, Quepasa
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myYearbook Hits Run Rate Of $20 Million
mYearbook is a social networking website that has about 20 million members. It is one of the top 30 websites in the U.S. and it has an annual run rate of about $20 million based on revenues from the end of 2009. The numbers were reported by CEO Geoff Cook. The revenue earned is from virtual currency within games built in to the social network. Some of the games include Blind Date, Quiz, and Owned. Currently myYearbook builds game in-house, but they plan to open up their platform to certain developers in a similar manner as Facebook and MySpace. [Mashable]
Categories myYearbook
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myYearbook Gets Signed $13 Million From Norwest Venture Partners, U.S. Venture Partners, and First Round Capital
“When looking at investment opportunities in the consumer internet sector, we found myYearbook offered the most attractive and engaging value proposition for both members and advertisers alike,” stated stated Sergio Monsalve, partner at Norwest Venture Partners. “The company has created a service that is highly valued by its members and a platform for marketers to reach and engage this audience in a friendly and effective way.”
myYearbook.com has raised $13 million Series B from U.S. Venture Partners, First Round Capital, and Norwest Venture Partners. myYearBook plans on using the money to provide additional services to members and focus on building revenue. Brother and sister teenage entrepreneurs, Dave and Catherine Cook started myYearbook in 2005.
myYearbook receives about 10 million monthly unique visits per month. So far, myYearbook has raised about $18.6 million. Sergio Monsalve will be joining myYearbook.com’s Board of Directors through this round of funding.
“We are excited to have NVP and Sergio on board as we enter this next phase of our growth,” stated Geoff Cook, CEO of myYearbook. “We are focused on creating new, innovative services that will offer long-lasting value to both advertisers and our members. NVP’s track record of success and Sergio’s deep operational experience from brand name companies like Photobucket and eBay will be invaluable to our team.”
Related Links:
1. myYearbook.com
2. Business Wire
3. TechCrunch
4. Sergio’s profile (via NorwestVP.com)
5. Mashable