Quepasa Corp., owner of popular Latino social network of the same name and cross-platform social game development studio Quepasa Games, has executed a definitive agreement to merge with myYearbook for $100 million as a cash-and-stock deal.
Quespasa CEO, John Abbott says they intend to create nothing less than the public market leader in social media arena. “Combination with myYearbook nearly doubles the size of Quepasa’s existing user base while positioning the new company for significantly higher growth in mobile and social games, advertising, and virtual currency.”
The myYearbook team is hungry to continue building innovative products at the convergence of social and mobile. Their proven track record in monetization and engagement will fuel significant future growth.
Over the past 12 months, myYearbook has experienced rapid growth in users and in mobile traffic, reporting over 1 billion page views on mobile platforms and 1.2 billion page views on the web each month. It is also the #1 web site in the comScore Teens category with more visits, minutes, and pageviews than any other site in the category. The platform focuses on the people users want to know rather than the people they already know. The service has built a large and growing user base, especially in the teen and young adult demographic.
Both companies have a rich history in social media. Quespasa started in the 1990s before the dot-com crash and myYearbook formed up in 2005 when Facebook was still taking shape.