Teen company sells for millions
The brother and sister team of Catherine & David Cook start up a company and today 6 yrs later have sold it for millions of dollars. When they began the company in 2005, they thought up the idea while flipping through a yearbook and wanted to make a digital version. At the age of 15-and-16-year-olds, they started working and creating MyYearbook.
Within six-years the two raised $17 million in financing, grew the site to 20 million users and generated 1.2 billion monthly page views. On Sept. 21st, a publicly traded Latino social network, Quepasa, announced its $100 million acquisition of MyYearbook. The majority of the deal, $82 million, is Quepasa common stock. The other $18 million is cash.
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