Catherine Cook, founder of MyYearbook sold her company today for $100 million.
The news broke when the buyer, a publicly-traded Latino social network, Quepasa announced the acquisition. The deal is said to be $82 million in stock and the other $18 million in stock.
The 21 years old who founded the company with her brother David when she was 15 had the idea of having a digital version of her yearbook and MyYearbook was born.
The company now 6 years old has over 70 million users, and generates 1.2 billion monthly pageviews.
Geoff Cook, MyYearbook's CEO and sibling of Catherine and David, wrote a letter to his 100+ employees:
"I don’t consider this an exit or the end. I consider it the end of the beginning, and I believe we have a lot more innovative products to create," he says.
She is definitely going to have a very long summer break. We at YHP wish her the best.