At the young age of 15, Catherine Cook and her brother came up with a great business idea. Having just moved to a new school, they decided to flip through the yearbook in an attempt to meet other kids from their school using the only resource they had. While flipping through the pages, they realized how ineffective this method was. This got them thinking. What if they could somehow put the yearbook online so that they could socialize with the other kids?
So this is exactly what they did. With the help of their older brother, Geoff, a web entrepreneur, and his $250,000 investment, Catherine and her brother began their venture into the business world. Working with a team of developers in Mumbai, they were soon able to bring their idea to life. In April of 2005, Catherine and her brother were able to launch their website within their school. Aimed at high school students, this website allowed students to interact and meet online; taking fun quizzes and participating in ice breakers. Within the first week, myyearbook.com had its first 300 members. From there, their company grew rapidly. In 2011, MyYearBook joined with Quepasa, a company that runs social networking sites aimed at Latinos, in a $100 million deal. This event completely changed the company. Today, Catherine’s older brother is the CEO, and Catherine is the Vice President of what is now known as MeetMe.com. MeetMe.com focuses specifically on the experience of people branching out and connecting with new people. They have become a more versatile site, catering to all ages, and leading the public market for social discovery in the US.
It is truly amazing how someone so young can come up with an idea so big. Catherine Cook is an inspiration to young entrepreneurs everywhere, showing how dedication and a little luck can take the simplest of ideas and turn them into a reality.
Great Article! I like this idea mainly because it differs from the regular business model we see in so many social networking sites. The main draw to something like this would be the discovery of new people instead of the connection with those you already know. I think there is a huge gap in the market for something like this and I am looking foreword to seeing where it goes.