Ries tells Dixon about his early experience with startup failure in Silicon Valley and how that led him to launching IMVU, where “instead of spending years and millions of dollars in stealth mode we put a product in customers hands in full open public beta in six months.” … → Read More
The global virtual goods industry put up some very impressive numbers this year. From special Easter eggs to virtual ad campaigns, virtual goods sales have grabbed their share of headlines over the past twelve months. Now with social gaming on the rise and everyone from your teenage nephew to your grandma to your old rugby teammate buying a “little something” to sweeten their online game, here… → Read More
Just three years ago, IMVU was burning cash at a rate of half a million per month and still not profitable. The 3D virtual world, where souped-up avatars run amok, was gaining users but not on a path to sustainability.
Fast forward to 2010, IMVU is increasing its staff by 50% (going from 60 to 90 employees) and is on track to double sales this year. Currently, the company is at an annual revenue… → Read More
Thanks to reader tips we’ve had a chance to see IMVU’s racey new animated banner ads showing two women kissing as they fall downwards horizontally. The ad includes the message “live the lifestyle you’ve always dreamed of.” I signed up immediately.
The avatars roaming many online virtual communities may be cartoonish and their activities inconsequential, but the recent sale of Club Penguin to Disney for $350 million (with $350 million in earn out) demonstrates that the business of casual immersive worlds, or virtual hangouts, is not entirely child’s play. Virtual hangouts are where people can engage each other using imaginary… → Read More