myYearbook Welcomes WeeWorld to Currency Connect, Further Establishes Role In Virtual Economy

Contact:

Stephna Davis
Dig Communications for myYearbook
415-367-4102 myyearbook@digcommunications.com

Fastest Growing Social Network in the U.S. Adds New Partner to First-Ever Virtual Currency Exchange for Social Media

(NEW HOPE, PA) July 14, 2010 -- myYearbook, the best place to meet new people and one of the 25 most-trafficked sites in the United States, today announced the newest partner to its Currency Connect virtual currency exchange service, WeeWorld, a top teen property and social game. This partnership provides the millions of members on myYearbook and WeeWorld with new avenues for virtual earning and spending across the two sites.

Launched in December 2009, Currency Connect is an initiative of leading social media companies to promote site registrations and drive daily active users by linking their virtual economies. It is the first-ever service to allow virtual world and social networking site members to exchange virtual currency. Similar to a real-world currency exchange, an exchange rate is established between partner sites.

Currency Connect gives users an additional way to spend the virtual currency they've earned on their favorite sites. This exchange creates continued opportunities for users to buy or earn more currency.

"With the US virtual goods market slated to reach $1.6 billion this year, a currency exchange is beneficial for all social networks alike," said Geoff Cook, CEO of myYearbook. "It will be increasingly important for social media companies to embrace the fact that people are active on multiple social networks. Our partnership with WeeWorld recognizes this and allows both of our companies to venture further into the thriving virtual goods economy."

"With virtual currencies now in use on so many sites, it's inevitable that consumers will want to exchange them. For us, partnering with myYearbook's Currency Connect service is a natural next step, offering an easy-to-use gateway for exchanging points outside of WeeWorld," said Lauren Bigelow, WeeWorld Chief Operating Officer. "In fact, when we asked our users who have used the Currency Connect exchange program, 72% rate the experience as favorable or extremely favorable."