myYearBook raises funds with shaky Traffic stats
By Vivek | January 25th, 2007 at 08:23 pm ET
Teen and school going populace facing social networking site myYearbook has raised $4.1 Million in it’s Series A round of funding. U.S. Venture Partners (USVP) and First Round Capital participated in the investment round. In July last year, myYearbook.com had raised $1.1 million from angel investors. myYearbook currently claims to have 1.7 million registered users and gets 5 million uniques per month.
Interesting part from the myYearbook press release:
“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.â€
Founders seem to be getting right down to the point in open. But that the problem is this is not a secret anymore. Anyway I am not really sure if their contextual ad model is really working out. Looking at their traffic graphs on Alexa and Compete, it seems they raised money bit late. Clearly they hit a high point sometime last summer, but have been headed on a downward slope since than.
Links:
myYearbook
