MyYearbook Announced $20M Revenue For 2009

By Alicia Ashby On February 26, 2010 · Leave a Comment

Today MyYearbook CEO Geoff Cook announced that the teen-oriented social network generated $20 million in revenue during 2009, in a statement made to Mashable. The majority of this revenue was generated through virtual currency sales in MyYearbook's social games, which thus far are all developed in-house. Cook says that 2009's MyYearbook revenue is up 70% from what the site earned in 2008.

MyYearbook's plans for the coming year include opening up is platform so that select developers can add their own social games to the network, Facebook Connect integration, and the creation of iPhone and Android clients. MyYearbook's goal is to improve the site's stickiness, to help hold onto the attention of the site's predominantly teenage users.

Cook confirmed that MyYearbook was profitable last summer, due largely to revenue it was generating through its Lunch Money virtual currency. As early as last May, MyYearbook co-founder Catherine Cook was willing to confirm that the network's revenues were in the millions of dollars. MyYearbook most frequently trumpets how much money for various charities the site is able to raise through its virtual currency, but it's also clearly doing a good job of monetizing for itself.