Quepasa Corp. Buys myYearbook.com

$100 million sale is pending shareholder approval

A million dollars isn’t cool. You know what’s cool? $100 million. And that’s exactly how much New Hope’s myYearbook.com is getting for becoming part of Quepasa Corp. The Miami-based holding company specializes in social media and has a focus in Latin America. Quepasa has agreed to pay $18 million in cash and $82 million in stock holdings for the website. Geoff Cook—myYearbook.com’s founder—believes that the site is not in direct competition with Facebook because myYearbook.com is designed to help people—mostly teens—meet new people. And with 33 million registered users—it seems to be doing just that. Now—if you’ll excuse the Scoop—he has to go tweet this news and post it to Facebook. [Philly.com]