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Siblings Sell Their Web Business for $100 Million

By JLP | July 21, 2011

Interesting story in today’s WSJ: Millennials Make Millions

Catherine and David Cook started myYearbook.com in 2005 when they were 15 and 16 years old, respectively, as a way to connect with their new classmates at Montgomery High School in Skillman, N.J.

Big brother Geoff Cook, then 26 years old, bankrolled the start-up with $250,000 he had made from selling an online-resume business he built as a Harvard University student.

On Wednesday, Geoff Cook, now the 33-year-old chief executive of myYearbook.com, announced the sale of the company to Quepasa Corp., a social network aimed at Latinos.

All it takes is a good idea, money, and proper execution. Pretty simple, don’t you think?

Of course it’s not that simple or we’d all be rich. But, this story does make me want to spend some time talking about entrepreneurship with my three kids.

Topics: Entrepreneurship, Kids and Money | 7 Comments »


7 Responses to “Siblings Sell Their Web Business for $100 Million”

  1. aa Says:
    July 21st, 2011 at 11:13 am

    Most of these dotcoms are not profitable at all. All they need is to find rich fools who are willing to pay big for them. Remember MySpace?

  2. Leland Says:
    July 21st, 2011 at 11:19 am

    Somebody forgot to give me an older brother with a Harvard degree and $250,000 to invest.

  3. Dan Says:
    July 21st, 2011 at 12:53 pm

    “All it takes is a good idea, money, and proper execution.”

    You sure have a rosy view of the marketplace.

  4. JLP Says:
    July 21st, 2011 at 5:28 pm

    • Dan wrote:

    “You sure have a rosy view of the marketplace.”

    Not really. I didn’t say having all those pieces was easy. I just said that’s what you need.

    • aa,

    Yes, you are right. Most dot-coms are trash.

    • Leland wrote:

    “Somebody forgot to give me an older brother with a Harvard degree and $250,000 to invest.”

    Me too!

  5. Steve Braun Says:
    July 21st, 2011 at 9:38 pm

    I sold my web business to some guy named Zuckerberg back in 2003 for $100. Ooops!

  6. Stacey Says:
    July 22nd, 2011 at 12:27 am

    Where’s the novelty? Doesn’t FB do what they do?

  7. BG Says:
    July 22nd, 2011 at 9:31 am

    “Doesn’t FB do what they do?”

    FB does a lot of things poorly too, so if anything, FB is the one creating a market for the competitors (Google+, MyYearBook, etc, etc).

Comments