Rumor: High school social network MyYearbook raising a “huge” round

June 19, 2008 | Eric Eldon

Well, it might seem like the bloom is off the flower of social networking, as questions mount as to how these sites can become profitable businesses.

But MyYearbook, a fairly new but fast growing (for its size) social network that focuses on high schools, “is raising a huge round,” according to a reliable source.

This seems especially probable as a rash of other social networks and related companies have raised large rounds, most recently social network application company RockYou and business social network LinkedIn.

MyYearbook has, according to Hitwise, seen a 384 percent increase in traffic over the last year — from 0.29 percent to 1.40 percent of the US social networking market .

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About the Author, Eric Eldon

Eric currently covers digital media technology and business, especially what's happening on social networks and their platforms. He writes and edits stories about lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a now-failed startup called Writewith, that was building editorial software for newspapers and other groups of writers.