Quepasa Corporation, owner of the social network Quepasa.com and cross-platform social game development studio Quepasa Games, has announced that it has executed a definitive agreement to merge with Insider Guides, Inc., DBA myYearbook, a place to meet new people on the web or mobile device, for $100 million, comprised of approximately $82 million in Quepasa common stock and approximately $18 million in cash.
Upon completion of the merger, the combined company will comprise:
- $33.6 Trailing Twelve Month (TTM) revenue
- Over 70mm registered users
- 2.4 billion pageviews
- 2.2mm mobile app installs and 11.5mm mobile game installs
In 2010, myYearbook generated $23.7 million in revenue, up 53% year-over-year, and EBITDA of $4.9 million, up 315% year-over-year. Quepasa says more than 27 million registered users.
“With this merger, we intend to create nothing less than the public market leader in social discovery,” noted Quepasa CEO, John Abbott. Geoff Cook, CEO of myYearbook also noted that “We are thrilled to bring our vision of social discovery to a global audience through combination with Quepasa.”