MyYearbook

Virtual currency exchange to launch in 2010

Beginning in the first quarter of 2010, social sites IMVU and MyYearbook will launch a virtual currency exchange allowing users from either service to exchange currency between the sites.

Currency Connect is billed as a "cross property virtual currency exchange" system similar to how you would change U.S. dollars into euros if you were traveling in Europe. Users simply swap their currencies depending on what site they are on. Overall this is not a bad idea as I still find it surprising that users pony up real money for virtual money that can never be taken out … Read more

Webware Radar: Zoho completes single sign-on for all apps

Online app provider Zoho announced Tuesday that it has added single sign-on support for Zoho CRM, its on-demand customer relationship management app for organizations that run businesses online. According to the company, Zoho CRM users will be able to access all of Zoho's services and won't be prompted to re-authenticate when they switch between applications. Zoho CRM is the last of the company's applications to add single sign-on.

Mio.tv, a company that offers music videos and other entertainment clips for Latin Americans, announced Tuesday that it has acquired Spanish social network Wamba for approximately $5.1 … Read more

$13 million more for teen networking site MyYearbook

It's no Facebook, but social site MyYearbook can still play with the popular kids: the site has announced $13 million in Series B venture funding. The round was led by Norwest Venture Partners with existing investors US Venture Partners and First Round Capital chipping in as well. Norwest's Sergio Monsalve has joined the site's board of directors.

Founded in 2005 when co-founder Catherine Cook was a sophomore in high school (the two other co-founders are her older brothers Dave and Geoff, who serves as CEO), MyYearbook focuses on a decidedly younger demographic than Facebook and even News … Read more

Source: IAC-MyYearbook acquisition rumors are false

Several sources close to InterActiveCorp (IAC) have told CNET News.com that, contrary to rumors, the media conglomerate is not purchasing youth-oriented social-networking site MyYearbook. The rumor was originally reported by Valleywag on Wednesday.

The misconception arose, one source said, because MyYearbook was one of multiple start-ups that were invited to do "mock pitches" to IAC chairman and CEO Barry Diller as part of a session at this week's exclusive Quadrangle conference (hosted by the eponymous private equity firm) at the Pierre Hotel in Manhattan. Essentially, it was like moot court for entrepreneurs.

MyYearbook was founded by … Read more