Online Socail Network myYearbook.com Raises $4.1M in Venture Funding

WebKnowHow
Friday, January 26, 2007; 02:44 AM

myYearbook.com, a leading social networking site for teens, announced today that it has raised $4.1 Million in Series A funding from U.S. Venture Partners (USVP) and First Round Capital.

“We’re excited to have USVP and First Round Capital on board. Their investment will help finance the expansion of myYearbook including significant additions to technical infrastructure, sales, and product development,” announced Geoff Cook, co-founder and CEO of myYearbook.com.

Rick Lewis will represent USVP on the myYearbook.com Board of Directors.

“myYearbook.com has quickly attracted a large audience by focusing on providing an enjoyable and useful environment for teens, at a time when advertisers are struggling to reach teens through traditional media,” said Rick Lewis of U.S. Venture Partners. “We are delighted to work with the myYearbook.com team to realize the site’s full potential as a leading teen media property.”

myYearbook.com goes beyond banner ads by implementing effective and innovative web marketing programs for teens. From promoting movies to sparkle body sprays, myYearbook serves ads that enhance rather than compete with the user experience. This strategy effectively attracts loyal members, which in turn become strong consumer audiences for everything from educational materials to movies and energy drinks.

“Teens don’t want banner ads on their profiles,” explained Catherine Cook, co-founder and high school student. “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.”

myYearbook.com currently counts more than 1.7 million members in the United States and around the world, and over 5 million unique visitors per month.