United Online, a US-based provider of consumer products and services, has acquired SchoolFeed, an online high school network backed by Korea-based telecommunications company SK Telecom.
SchoolFeed, which is an app on social network Facebook, has more than 19 million members and has been growing on average at 100000 registrations per day during the past three months.
The company has become part of Memory Lane, a subsidiary of United Online.
SchoolFeed was launched in 2011 by chief executive Lance Tokuda who previously co-founded RockYou, another Facebook app developer.
SchoolFeed secured 1.75m in seed funding in February in a round led by venture capital (VC) firm First Round Capital. VC firms Interwest Partners and CrossLink Capital also contributed to the round. Charles River Ventures and XG Ventures were named as previous backers, together with several angels, though their investments were not disclosed.