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United Online Buys Social Media Company

United Online Inc. on Monday said that its Memory Lane Inc. subsidiary has acquired Northern California social media company SchoolFeed Inc. for an undisclosed price.

The Woodland Hills media online services company said that SchoolFeed, which is based in San Mateo, will boost its Classmates.com website that helps people stay connected to their high school friends.

SchoolFeed, which launched last year, provides online yearbooks, games and other applications that are used on Facebook. It has more than 19 million members, United Online said.

“We expect the acquisition of SchoolFeed by Memory Lane to solidify our Classmates service as the premier high school social media platform in the U.S.,” said Chief Executive Mark Goldston in a statement. “We anticipate that the addition of SchoolFeed’s installed base … will create an opportunity for Classmates to have a leading position on Facebook.”

SchoolFeed co-founder and Chief Executive Lance Tokuda has joined Memory Lane, which is based in Seattle.

Shares were down 2 cents, or less than 1 percent, to $3.95 in midday trading on the Nasdaq.

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