Earlier this month, New Hope-based myYearbook.com founder Catherine Cook was honored as the number one young entrepreneur in the country by paidContent, according to a press release.
Cook has been loved by media since she and brothers Dave and Geoff launched the high school-focused social media site in 2005 – when she was was barely old enough to drive – after deciding that traditional yearbooks weren’t making the cut in the age of new media.
The award was accepted with pride, we’re sure, but we wondered when one becomes a regular, old “entrepreneur.” After all, Cook isn’t sixteen anymore.
Could it be $10 million in sales and 9.8 million unique hits? Maybe being noticed as the third largest and only growing social media portal aside from Facebook would do the trick. Does a title even matter?
“I am 19, I do like having that added honor to it, but I feel like sometimes it’s glam’d up a little too much. When some people hear it they get some kind of skewed perception that you’re a millionaire and a big spender,” Cook told Technically Philly in a telephone interview.
“I drive a 1996 Mitsubishi Galant.”
We’d like to think that Cook might be considering an upgrade since the company recently decided to monetize its Lunch Money feature, a virtual currency with which users can purchase gifts for friends or donate to noble causes. One million fake dollars cost $9.99 real cash. Six months in, Lunch Money is making eight figures in sales, Cook tells us. Virtual gifts have become one-third of the company’s revenue.
We caught up with Cook to see what her and her brothers have been up to since launching the site almost four years ago, what’s happening with $13 million in venture funding raised last year, and whether the Cooks are rooting for the Phillies or the Yankees, after the jump.
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