RENTON, Wash., Aug. 22, 2008 (GLOBE NEWSWIRE) -- Classmates.com, a leading online social network, today announced its agreement to lease 58,000 square feet of new office space on Seattle's waterfront at 333 Elliott Avenue West to accommodate the social networking company's growth. The building was recently constructed by Martin Selig. Classmates.com, based in Renton, WA since 1995, will move its headquarters to Seattle in early 2009.
"Classmates.com is a social networking pioneer that has demonstrated significant growth. We are building on our results to expand and hire. So we see our new corporate office as another asset to help attract top talent and provide a great working environment for our employees," said Steven McArthur, president of Classmates Online, Inc.
Classmates' Growth Highlights
* Nielsen//NetRatings ranks Classmates.com as No. 3 among Top Social Networks in unique monthly visitors (U.S. work and home July 2008) * Paid accounts for Classmates Media Corporation grew by 41 percent in the past year, from June 30, 2007 to June 30, 2008, to more than 3.8 million of its more than 50 million members. * Active accounts for Classmates Media Corporation grew by 29 percent to 15.1 million in the second quarter of 2008 compared to the year-ago quarter. * Revenues for Classmates Media Corporation in the quarter ending June 30, 2008 were a record $57 million, an increase of 19 percent versus the year-ago quarter.
Top 10 Social Networking Sites for July 2008 (U.S., Home and Work)
1. MySpace 2. Facebook 3. Classmates.com 4. LinkedIn 5. Yahoo! Groups 6. Reunion.com 7. MyFamily.com 8. LiveJournal 9. Imeem 10. Tagged.com Source: Nielsen Online
About Classmates Media Corporation, Inc.
Classmates Media Corporation (CMC), a wholly-owned subsidiary of United Online, Inc. (Nasdaq:UNTD), operates leading online social networking and loyalty marketing services under the Classmates (www.classmates.com) and MyPoints (www.mypoints.com) brands. Classmates.com connects millions of members throughout the U.S. and Canada with friends and acquaintances from school, work and the military. CMC also operates leading social networking sites in Germany (www.stayfriends.de), Austria (www.stayfriends.at), Sweden (www.stayfriends.se) and France (www.trombi.com). For more information about United Online please visit www.unitedonline.com.
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