September 23rd, 2011

(Founder Stories) Eric Ries: Missing The Bullseye Made The Lean Startup

In this episode of Founder Stories with host Chris Dixon, Dixon sits down with The Lean Startup author, Eric Ries.

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.” Out of that experience came his thinking on Lean Startups, which he discusses in detail with Dixon. → Read More

December 31st, 2010

The Year In Virtual Goods By The Numbers

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 is a look a back at the year in virtual goods sales.

$7,300,000,000: expected global revenue generated by the virtual goods industry in 2010. This is huge, considering the $60 billion generated in 2009 by the video game industry as a whole, and clearly shows that browser-based gaming is making great strides.

$2,100,000,000: The projected size of the US virtual goods market in 2011. → Read More

April 30th, 2010

IMVU's Virtual Cash Cow: Doubling Revenues, Focused On Gaming (Video)

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 run rate of $40 million— and according to CEO Cary Rosenzweig the Palo Alto based company should hit a $60 million annual revenue run rate by the end of this year. For the last two years, revenues have roughly doubled from $11 million in 2008 to $22 million in 2009 and now $40-plus million in 2010. That’s a lot of real world dough for a company whose fortune is based on virtual currency and an endless factory of avatar accessories. IMVU says the next stage of growth will be defined by new international markets, Macs and of course, Facebook. → Read More

November 10th, 2008

IMVU Gets Pretty Racey With Those Ads

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 ad was spotted on Ustream, which prohibits content that is obscene or includes “pornography, erotica, child pornography or child erotica.” As far as I’m concerned this ad is none of that, but the Prop 8 supporters may disagree.

Watch the animated version: → Read More

August 5th, 2007

Virtual World Hangouts: So Many To Choose From

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 characters in imaginary environments. They have been around and popular in Europe and Asia for years. However, they appear to be gaining traction in the United States as of late. Some commentators even believe that the type of experience provided by these destinations could very well become integral to the forthcoming Web 3.0 era. The newly released MultiVerse platform, which is designed for the creation of online 3D worlds, certainly anticipates a future in which developers demand the tools necessary to build niche virtual communities because such communities have gone mainstream. Currently, virtual hangouts differentiate themselves by targeting particular audiences and providing certain types of immersive experiences. Destinations such as Club Penguin and Barbie Girls cater to children and pre-teenagers with their simple user interfaces, basic games, and cartoon graphics. Other immersive worlds such as Second Life and Habbo Hotel shoot for a broader audience by providing more advanced chat capabilities, more realistic simulations of reality, and tools to design objects and surroundings. Then there is Red Light Center (NSFW), which targets mature adults to give them an altogether more explicit breed of entertainment. The worlds meant for children are designed with a concern for the safety and security of their users. Webkinz, for example, only lets users chat with a preselected assortment of phrases so no one can say anything inappropriate or share personal information. The services meant for general audiences lack such restrictions and theoretically can be enjoyed by all types of people, although this freedom often translates into behavior that would be utterly inappropriate for children. Second Life, for example, does not explicitly promote adult behavior but has become notorious for it nonetheless. Embracing the more voluptuous side of human behavior, services like Red Light Center are professedly all adult, all the time and encourage users to participate in explicit behavior. Virtual hangouts range not only in the audiences they target but also in the level of immersion they provide. Some, such as Second Life and Active Worlds, put you in 3D-rendered environments with first person points of → Read More

Real-Time
Crunchbase

Media Armor — Received $1.53M in Series A funding from iNovia Capital and Greycroft Partners
2.10.2012
MyAutoZap.com — Company added to CrunchBase
2.12.2012
Greycroft Partners — Invested in Media Armor.
2.10.2012
Cidade Internet — Acquired by Populis.
2.1.2012
Jive Software — Went public with stock symbol NASDAQ:JIVE.
2.3.2012
Cidade Internet — Acquired by Populis.
2.1.2012
2.1.2012
2.9.2012
LetsBuy.com — Acquired by Flipkart.
2.9.2012
Cocoafish — Acquired by Appcelerator.
2.9.2012
Media Armor — Received $1.53M in Series A funding from iNovia Capital and Greycroft Partners
2.10.2012
rollApp — Received $243k in Series A funding from TMT Investments
2.7.2012
GCI Com — Received £10M in Unattributed funding from Business Growth Fund
2.9.2012
Stripe — Received $18M in Unattributed funding from Sequoia Capital
2.9.2012
BoardProspects — Received $650k in Seed funding from Mike Verrochi
2.9.2012
Greycroft Partners — Invested in Media Armor.
2.10.2012
iNovia Capital — Invested in Media Armor.
2.10.2012
TMT Investments — Invested in rollApp.
2.7.2012
Business Growth Fund — Invested in GCI Com.
2.9.2012
Sequoia Capital — Invested in Stripe.
2.9.2012
Jive Software — Went public with stock symbol NASDAQ:JIVE.
2.3.2012
MyAutoZap.com — Company added to CrunchBase
2.12.2012
Repairhub — Company added to CrunchBase
2.12.2012
WineMob — Company added to CrunchBase
2.12.2012
Alcoa Inc — Company added to CrunchBase
2.12.2012
Media Strike — Company added to CrunchBase
2.12.2012
2.12.2012
Metier HR - Cloud Based HR Process Automation Suite — Product added to CrunchBase
2.12.2012
TweepsMap — Product added to CrunchBase
2.12.2012
Wupbox account — Product added to CrunchBase
2.11.2012
Pocketbook (Mobile app, coming soon) — Product added to CrunchBase
2.11.2012
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