MyYearb k The $100 Million Startup Name You Need To Know
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For the next generation of million buck milennials, that competition is down to an earlier start.
It in fact was a simple and easy irresistibly practical idea from siblings Catherine and David C k. In 2005, the 15- and duo that is 16-year-old to trade the paper version of the standard highsch l yearb k for the digital one. myYearb k was born, a social networking site that the bro and sis team worked with throughout senior high sch l. The founder for the web site is Geoff C k, the other sibling to Catherine and David, who would work to hire over 100 employees because of the company. myYearb k exploded in popularity as well as in simply six years it could proudly boast $17 million raised in funding, over 20 million members, 1.2 billion page that is monthly, and $20 million in income as reported by both escort service El Monte MSNBC and Business Insider.
The site came across having its reasonable share of early investors enthusiastic about purchasing the company, however with just a few thousand dollars as you party that is interested offer, the C k’s made a decision to wait in the offer. The delay was worth it as final Wednesday publicly traded Latino network that is social bought myYearb k for $100 million. $82 million is in Quepasa stock that is common David, Geoff, and Catherine would grab the remaining $18 million for themselves. The funds won’t change the business though- Geoff will nevertheless continue steadily to stay the company CEO and the staff of myYearb k will all keep their jobs and remain headquartered in brand New Hope having a letter Geoff composed towards the workers saying that this is not, “. an exit or the end. We contemplate it the final end associated with start. we have much more products that are innovative produce.”