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United Online buys social app maker schoolFeed

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United Online buys social app maker schoolFeed
Submitted by Fox First at Ten on June 11th

WOODLAND HILLS, Calif. (AP) - United Online Inc., the owner of the Classmates.com website, announced Monday that it has acquired social media application company schoolFeed Inc. for an undisclosed price.
SchoolFeed operates online yearbooks, games and other applications, used on Facebook, that allow users to keep in touch with high school contacts. SchoolFeed was launched in 2011 and has more than 19 million members, according to the company.
United Online said the acquisition will help build on its existing business that connects people with their old high school peers. United's subsidiary Memory Lane, which runs Classmates.com, will operate schoolFeed.
Shares of United Online, which is based in Woodland Hills, Calif., fell 1 cent to $3.96 in midday trading.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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