By all measures, Geoffrey Cook, 31, can count himself as a huge success in the world of online commerce, and his current venture, myYearbook.com, is no exception.A social-networking site conceived by his two younger siblings when they were in high school, the New Hope company, now five years old, brought in more than $2 million in revenue last month and finally turned its first official profit in the spring.
"It's a milestone," Cook said. More important, he said, "we don't feel we have a need to raise more money to run the company the right way. We never wanted to be dependent on the next round of venture capital."
Even so, it was Cook's network of friends and former investors that landed the company a total of $16.9 million in venture capital in two rounds - enough to employ 84 people and outfit headquarters in trendy New Hope.
To read the full, original article click on this link: His network funds a virtual one | Philadelphia Inquirer | 08/22/2010
Author: Jane M. Von Bergen
