Faceb k Inc. founder Mark Zuckerberg s n may command a $100 billion business.
A blog for Kidz by kidz
But for three siblings from New Jersey, the purchase of their social-networking company for $100 million in money and stock is just a reminder that life-changing payouts are easy for business owners underneath the lofty strata of Twitter, Groupon Inc. as well as other tech that is red-hot.
Catherine and David C k started myYearb k in 2005 if they had been 15 and 16 years of age, respectively, in order to relate genuinely to their brand new classmates at Montgomery High Sch l in Skillman, N.J. Big brother Geoff C k, then 26 yrs . old, bankrolled the start-up with $250,000 he had produced from selling an online-resume company he built as being a Harvard University pupil.
Also while once-popular social networks such as MySpace and Bebo have actually faded, myYearb k has evolved simply enough from the origins to carve a niche out in the shadow of Faceb k and Twitter Inc. Quepasa shares rose 39% Wednesday to $9.93. Together, Quepasa and myYearb k do have more than 70 million new users, less than a tenth of Twitter’s 750 million active users. Quepasa and myYearb k say their combined revenue for the past 12 months was $33.6 million. Research firm EMarketer estimates that Faceb k had ad income last year of $1.86 billion. (more…)