While in high school, Catherine and Dave Cook created a social media site known as MyYearbook. That was in 2005 and now the company is known as MeetMe and is worth millions of dollars.
The idea came to Catherine’s mind as the siblings were flipping through their yearbook. She thought it would be interesting if there could be a free, interactive version of a yearbook online. The pair were able to convince their older brother, Geoff, to invest in their idea as he had already had experience with other web startups.
Over several years the company expanded and the need for additional investors became apparent. The investors wanted to make significant changes, but the Cooks stuck to their vision and were quite successful by doing so. The company has millions of members and makes millions of dollars.
The social media is clearly dominated by certain sites like Facebook and Twitter, so how does a company like MeetMe continue to be successful? It is because they have found a perfect niche that works well for them. The site is specifically for high school students. Moreover, the Cooks made sure to mine that niche by really listening to their members’ suggestions.
I think that potential entrepreneurs can learn a lot from the Cooks’ story. In particular, sticking to your vision is an important thing to do as your ideas continue to grow and your business expands. Also, finding a niche that you can take advantage of could be pivotal to your venture being as successful as it can be.
Wow, this is a really cool idea that seems so simple, but has had so much success. I also think it is really awesome that they were able start a business, but not stop there. They continued to include new ideas, which really shows their entrepreneurial minds.
The Cook’s definitely have a good sense of business. They found a niche to appeal to high school audiences and they listened to feedback to make the product better. It’s amazing how many digital spaces are surviving even with giants like facebook and twitter. However, that is a good thing.