Classmates.com Parent Purchases Hot App

United Online, owner of Classmates.com and a number of similar sites, has reportedly acquired schoolFeed. If you’re not familiar, schoolFeed is a Facebook app “that’s been growing like a weed over the past several months,” according to VentureBeat. “SchoolFeed acts as a connection-finding tool for current and former high school students.”

The app reportedly has about 19 million members, with 100,000 new registrations added daily. As such, VB says it’s very likely that schoolFeed is already cramping Classmates.com. “For United Online, it was easier to buy and integrate the company than continue trying to fight the app and contend with its rapidly growing popularity.” Financial terms of the deal were not disclosed. schoolFeed will now be owned by Memory Lane, the new brand name for Classmates.com and a subsidiary of United Online.

“We expect the acquisition of schoolFeed by Memory Lane to solidify our Classmates service as the premier high school social media platform in the U.S.,” stated United Online chair Mark Goldston. The schoolFeed team, including former RockYou co-founder Lance Tokuda, is expected to join the Memory Lane staff.

 

Read the whole story at VentureBeat »
Tags: apps
Recommend