New Jersey Siblings Net $100 Million for myYearbook Sale

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"The Anti-Facebook"

Cook attributes the success of the company to its focus on meeting new people, rather than duplicating Facebook's social graph of connecting with old friends and family.

"MyYearbook allows you to meet new people who are near you geographically, or who are a similar age to you, or who like to play the same games as you," Cook said. "There's a lot of richness to meeting new people... It's kind of the anti-facebook in that sense."

Still, the myYearbook app and Quepasa app on Facebook have over 2 million and 28,000 monthly active users respectively. Abbott views that social network as a "great way we can draw an audience to our own applications or site."

"We're really excited about the prospects of taking the mobile applications that Geoff has built and rolling those out in Latin America and then worldwide," Abbott said. "The growth potential on that basis is massive."

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