IMVU Named AlwaysOn OnHollywood 100 Winner
Company Selected as Innovator in 3D Virtual Entertainment
PALO ALTO, Calif., April 13, 2009 -- IMVU Inc. (www.imvu.com), an online destination where adults and teens meet new people in 3D, today announced that it has been selected to appear on the 2009 OnHollywood 100 List. The OnHollywood 100 Award is given to private, emerging technology companies in the media and entertainment industries. IMVU was selected by the AlwaysOn editorial team based on demonstration of growth, market opportunity, quality of innovation and customer traction.
"We're honored to appear on this year's OnHollywood 100 list," said Cary Rosenzweig, CEO of IMVU, Inc. "This recognition is another sign that IMVU continues to break new ground in the development of compelling 3D experiences."
Since launching in 2004, IMVU has grown into one of the largest 3D virtual communities in the world, with more than 35 million registered users and more than 5 million unique visitors per month. IMVU combines an expressive 3D environment, an avatar-based social networking experience, and a robust digital goods economy that enables users to buy, create and sell digital products such as clothing, room decorations and music. IMVU has the world's largest digital goods catalog, with over 2 million items developed by more than 100,000 registered developers. The company, which earns more than 90 percent of its revenue from the sale of digital credits used to buy digital goods, expects to achieve profitability later this year.
IMVU and the other OnHollywood 100 winners will be recognized at OnHollywood, April 27 to 29, at The Sofitel Hotel in West Hollywood. OnHollywood is where cutting-edge technology CEOs from the back streets of Silicon Valley meet the Hollywood digital entertainment and media elite. This two day executive event features high-level debates on which forces are disrupting user behavior and creating new opportunities, content strategies and monetization schemes in the video, music, gaming, and mobile industries.
"This year's OnHollywood 100 companies represent the future of entertainment and spotlight how technology and digital media have and will continue to deeply impact the entertainment industry as we know it," said Tony Perkins, founder and CEO of AlwaysOn. "Despite the economic downturn, the pace of innovation continues to progress, making this year's selection even more difficult. We are pleased to see what 2009 has in store for the entertainment industry and we are happy to reveal the 2009 OnHollywood 100."
IMVU and the other OnHollywood 100 winners were selected from among hundreds of other technology companies nominated by investors, bankers, journalists and industry insiders. The AlwaysOn editorial team conducted a rigorous three-month selection process to finalize the 2009 list.
A full list of all the OnHollywood 100 winners can be found on the AlwaysOn website at http://alwayson.goingon.com/permalink/post/31890
AlwaysOn ignited the open-media revolution in early 2003 by being the first media brand to launch a global blog network. In 2004, AlwaysOn continued to lead the media industry in innovation by introducing a social network where members can connect and engage. AlwaysOn is also revolutionizing the media business by applying its open-media principles to its executive event series (Stanford Summit, AlwaysOn Hollywood, AlwaysOn Media and GoingGreen) and quarterly print "blogozine" by empowering its members to post and share their ideas and meet each other online. As our loyal readers know, AlwaysOn is committed to the free-market, merit-driven approach to reporting and event programming. No other media brand has dared to create such open interaction with its readers and event participants.
Founded in 2004, IMVU Inc. (www.imvu.com) is an online destination where adults and teens meet new people in 3D. IMVU won the 2008 Virtual Worlds Innovation Award and was also named a Rising Star in the 2008 Silicon Valley Technology Fast 50 program. Still in public beta, the company has already reached major milestones, including 30 million registered users, 100,000 registered developers and over $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, digital rooms, music and home pages. IMVU offers the world's largest digital goods catalog with over 2 million items. Over 90 percent of IMVU's revenue is from the direct sale of virtual credits, used to purchase digital products. IMVU is backed by top venture investors Best Buy Capital, Menlo Ventures, Allegis Capital and Bridgescale Partners and is located in Palo Alto, CA.