myYearBook.com Receives $4.1 Million
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Why are those at myYearBook so happy?
They just raised $4.1 Million in Series A funding.
What is myYearBook?
A social network for teens, with a twist – this one was created by teens Catherine Cook and Dave Cook.
Investors were U.S. Venture Partners (USVP) and First Round Capital.
What will they use this funding for?
They stated that the funds will help finance the expansion of myYearbook including significant additions to technical infrastructure, sales, and product development.
myYearBook is another in the teen social network space, much like recently reviewed Piczo. However, there are two interesting twists. This network was conceived and is run by two teenagers, a brother and sister. The duo is guided by their older and seasoned brother.
Many try long and hard to reach their target audience spending countless dollars and resources on research. The team executing on this site and vision is the target audience, brilliant. Provide them with the proper “adult supervision” – so to speak – enter their investors, and this may become a hit.
Read this enlightened and telling quote from one of the founders Catherine Cook “Teens don’t want banner ads on their profiles, banner ads negatively affect the user experience, and it’s not clear that they’re effective. I am the ‘target demographic’ and I am constantly listening to our members. I know that the main way to convince teenagers to see a movie or to buy a product is to show us that our friends are doing it. Ads on myYearbook.com are tools to not only introduce a product, but also to add to a user’s experience on the site.”
Their site currently has over 1.7 million members and receives over 5 million unique visitors per month. Keep an eye on this one.
See their site here.
Read more about Geoff Cook – NA.
Read more about Dave Cook – NA.
Read more about Catherine Cook – NA.
Read more about U.S. Venture Partners here.
Read more about First Round Capital here.