myYearbook Snags $13 Million Funding

  • July 31, 2008
Teen social networking site myYearbook has raised $13 million in a second-round financing from investors led by Norwest Venture Partners and including U.S. Venture Partners and First Round Capital.

The company, founded in 2005, has raised $18.5 million to date. It plans to use the latest round to develop new member services and continue to boost revenues. As part of the deal, Norwest partner Sergio Monsalve will join myYearbook's board of directors.

The site had 4.5 million unique visitors in June, according to comScore. While myYearbook may not be about to overtake category leaders such as MySpace and Facebook in traffic, the company touts users' engagement levels. The average myYearbook member visits the site eight times per month and spends 30 minutes per visit, according to the company.--Mark Walsh

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