All before the age of 24, Geoff Cook founded a business as a sophomore at Harvard, sold the rights to another company, and invested in and helped start another company that would eventually make him millions of dollars. The best part is that the company that he invested in was started by his sister, Catherine, who at the time was only 14! She drew inspiration from her older brother’s impressive success at such a young age, and the two brainstormed new ideas together over the phone.
The idea for myYearbook came from when Catherine was flipping through her new high school’s yearbook. She was shocked by the amount of people she did not know and the useless information on the pages and thought about putting it all online. After convincing her brother to join in on her idea for a new platform of social media that connected new friends and entertained users for hours, the pair found investors and developers to start their company. Quickly, myYearbook became very successful, and in just a few years, Geoff and Catherine profited over four million dollars. The site’s appeal came from the ability for users to connect and make friendships with people they had never met, and in 2011, myYearbook was one of the 25 most-trafficked websites in the U.S. Also, to reach and understand the needs of her audience, Catherine friended all new people that signed up for the site. The site gives users the ability to play games, take quizzes, and make connections with people they already know or have never met. In 2011, the siblings sold myYearbook for $100 million to Quepasa.
Lasting friendships and even marriages between people that met on the site are just some of the success stories from this form of social media. Despite their already wide success, Geoff and Catherine Cook continue to set goals for their business, which they recently changed the name to MeetMe. They hope to globalize and spread their business across the world.
This is an interesting story and a really cool service!
It’s cool to see the siblings’ creativity in starting businesses, but also their foresight in selling the ideas, profiting from them, and then moving on to the next idea.