On Wednesday, Quepasa Corporation, which owns the popular Latino social network Quepasa, announced that it is merging with myYearbook, often hailed as “the best place to meet new people on the web or mobile device.”
With over 1 billion page views on mobile platforms and 1.2 billion page views on the web each month, myYearbook is one of the largest media properties in the US.
“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,” Quepasa Corporation says.
The deal is worth $100 million – approximately $82 million in Quepasa common stock and approximately $18 million in cash.
“With this merger, we intend to create nothing less than the public market leader in social discovery,” says Quepasa CEO, John Abbott.
“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,” he added. “”The myYearbook team is product-oriented and hungry to continue building innovative products at the convergence of social and mobile. We expect the scale of this combination to enable a new class of investor in Quepasa. We believe myYearbook’s proven track record in monetization and engagement will fuel significant future growth.”
According to the official word of the merger, myYearbook has experienced rapid growth during the last year both in terms of users and mobile traffic.
“We are thrilled to bring our vision of social discovery to a global audience through combination with Quepasa,” said Geoff Cook, CEO of myYearbook.
