- myYearbook
-
myYearbook 
Type Social network service Founder Geoff Cook
David Cook
Catherine CookHeadquarters New Hope, PA, USA Revenue 20 million USD [1] Slogan Friends, Flirts, Fun Website myyearbook.com Alexa rank 
1,674 (November 2011[update])[2]Advertising Banner ads, custom ads Registration Required Available in Portuguese Launched April 2005 Contents
History
myYearbook was initially created by two high school students, David and Catherine Cook, and their older brother Geoff, during Spring Break of 2005. Catherine persuaded Geoff, who founded EssayEdge.com and ResumeEdge.com from a dorm in 1997, to invest in their project. At the launch of the site in April 2005, Dave was a junior and Catherine was a sophomore; the project was initially activated at Montgomery High School, in suburban New Jersey where they attended. The site was created entirely by developers in India.[3]
In 2008, myYearbook partnered with casual game developer Arkadium to bring Flash based games to the site. The games incorporate Lunch Money, the myYearbook virtual currency. Lunch Money earned playing games are used elsewhere on the site.
In April 2009, the site added the Meebo instant messaging client to the site in order to provide real time chat.
In November 2009, myYearbook launched Chatter, a real-time stream that incorporates media sharing and gaming to help bring members together. Games you can play inside the stream include Ask Me, Rate Me and 2 Truths and a Lie. These games incorporate mechanics that help myYearbook members meet each other. By April 2010 the site reported the Chatter feature surpassed 1 million posts per day.[4]
In January 2010, myYearbook rolled out a new site design aimed to appeal to an older demographic. Of note is the "winning" site design was chosen through crowd-sourcing its members.[5]
In May 2010, myYearbook launched an iPhone/iPod Touch and Android application designed to bring the Chatter real time feed to mobile devices.[6]
In July 2011, myYearbook announced if had agreed to be acquired by Latino social networking site Quepasa for $100 Million In Cash And Stock.[7] The purchase was finalized on November 11, 2011.[8]
Virtual economy
myYearbook includes a virtual economy through which members earn and spend "Lunch Money," the myYearbook virtual currency. Lunch Money enables the purchasing of gifts which members can send to each other. Lunch Money can also be donated by members to their favorite charity through the Causes application.
Revenue model
myYearbook derives its revenue from three sources - advertising, virtual-currency sales and monthly subscriptions.[9] Advertising makes up two-thirds of its revenue, with the other sources making up the rest. It has an established sales office based in New York City and Los Angeles.
In February, 2010, myYearbook reported the company ended 2009 with a $20 million dollar run rate.[1] In December 2010, myYearbook partnered with Viximo service to provide better gaming opportunities for users.[10]
Financing
In 2006, myYearbook raised $4.1 million from US Venture Partners and First Round Capital. In 2008, myYearbook raised $12.8 million dollars in a Series B round.[11]
See also
References
- ^ a b "myYearbook Revenue at $20 Million Annually and Growing". Mashable. http://mashable.com/2010/02/26/myyearbook-revenue.
- ^ "Myyearbook.com Site Info". Alexa Internet. http://www.alexa.com/siteinfo/myyearbook.com. Retrieved 2011-11-02.
- ^ Stefanie Olsen (2007-08-16). "The secrets of a teen's Internet success". cnet. http://news.cnet.com/The-secrets-of-a-teens-Internet-success/2008-1038_3-6202845.html.
- ^ "myYearbook's Chatter Reaches 1 Million Posts Per Day". Myyearbook.com. 2010-04-12. http://www.myyearbook.com/press/release27/. Retrieved 2010-09-22.
- ^ "MyYearbook Rolls Out Its Crowdsourced Redesign". TechCrunch. http://techcrunch.com/2010/01/28/myyearbook-redesign/.
- ^ "myYearbook: Dating & Fun for Friends and Singles of Any Sex. Start Flirting Now for iPhone, iPod touch, and iPad on the iTunes App Store". Itunes.apple.com. 2010-09-07. http://itunes.apple.com/us/app/id372648912?mt=8. Retrieved 2010-09-22.
- ^ "MyYearbook bought by latino social network Quepasa.". TechCrunch. http://techcrunch.com/2011/07/20/facebook-for-latinos-quepasa-buys-myyearbook-for-100-million-in-cash-and-stock/.
- ^ http://abcnews.go.com/Technology/wireStory/quepasa-completes-purchase-myyearbook-14929433#.TsVqn3HSpLo
- ^ "myYearbook Forgoes Freemium, Reports Virtual Goods Success". Socialtimes. 18 August 2009. http://www.socialtimes.com/2009/08/myyearbook-forgoes-freemium-reports-virtual-goods-success/. Retrieved 10 May 2010.
- ^ http://venturebeat.com/2010/12/16/viximos-game-service-reaches-100m-users-on-dozens-of-smaller-social-networks/
- ^ "Teen Social Network myYearbook Gets $13 Million". TechCrunch. http://techcrunch.com/2008/07/29/teen-social-network-myyearbook-gets-13-million.
External links
Categories:- Social networking services
- Virtual communities
- Family businesses
- Social media
- Privately held companies based in Pennsylvania
Wikimedia Foundation. 2010.
