The developers are a passionate part of the community and their creations inspire other members to express themselves in incredibly unique ways. I personally have great fun interacting with such a vibrant and growing community.
PALO ALTO, Calif. (PRWEB) June 24, 2008
"Today's announcement is dedicated to the wonderfully creative IMVU community of developers and members who want to express their unique selves using 3D avatars," said Cary Rosenzweig, CEO of IMVU Inc. "The developers are a passionate part of the community and their creations inspire other members to express themselves in incredibly unique ways. I personally have great fun interacting with such a vibrant and growing community."
IMVU has developed a hybrid of proprietary 3D technology, artistry and tools that enable members to buy new products while having fun. Popular product features of IMVU include: Virtual Rooms, Personalized Avatar Homepages, IMVU 3D Messenger, Virtual Goods Catalog, Groups, Forums, Developer Tools and Interactive Games.
"IMVU is generating $1 million in revenue per month through its unique micro-payment economy," said Shawn Carolan, managing director of Menlo Ventures. "What's impressive is that 90 percent of that revenue comes directly from consumers who buy IMVU's virtual credits. With the majority of new web properties reliant entirely on advertising, it's refreshing to see a product that consumers value enough to pay for and Menlo is excited to be involved."
Founded in 2004, IMVU Inc. (http://www.imvu.com) is an online destination where young adults meet new people in 3D. Still in public beta, the company has already reached major milestones, including 20 million registered users, 100,000 registered developers and $1 million in revenue each month. Members of IMVU have fun meeting new people with similar interests and expressing themselves through personalizing their 3D avatars, virtual rooms and home pages. IMVU offers the world's largest virtual goods catalog with over 1.5 million items. Over 90 percent of IMVU's revenue is from the direct sale of virtual credits, used to purchase virtual products. IMVU is backed by top venture investors Menlo Ventures, Allegis Capital and Bridgescale Partners and is located in Palo Alto, Calif.