myYearbook Scores $13M
ADOTAS – The tweeny myYearbook is growing up: it just received a $13 million Series B investment from Norwest Venture Partners. Existing investors US Venture Partners and First Round Capital also participated.
myYearbook, a social network for teens, was launched in 2005 and so far, it’s received $18.6 million in funding. According to comScore, the site is the leading online community for teens and the fastest growing social networking site in the U.S. Hitwise reports 384% year-over-year growth at the site.
Investors are taking note: they see a rich marketing opportunity in the digi-crazed, well-funded teen audience.
“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. 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,” said Sergio Monsalve, of Norwest Venture Partners.
myYearbook was founded by sibling teen entrepreneur duo Dave and Catherine Cook. It now gets 10 million unique visitors a month and 2 billion page views.
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