IMVU Announces New Advertising Sales and Sponsorship Group
Partners with Alloy Media + Marketing and Hires Danny Wright as Head of Sales
PALO ALTO, Calif., September 14, 2009 -- IMVU, an avatar-based social network and 3D virtual world, today announced the introduction of a new advertising sales and sponsorship group that will help major brands reach IMVU's audience of more than six million monthly unique visitors. In creating this new business line, the company has signed a partnership with Alloy Media + Marketing and hired Danny Wright as head of sales to manage the sales and sponsorship group.
"IMVU spent our first five years focused on growing revenue paid directly from consumers," said Jeff Titterton, Vice President of Marketing and Sales for IMVU. "With consumer revenue ramping quickly, we are now ready to bring high-quality brands into IMVU. Partnering with Alloy and hiring Danny Wright are important elements of augmenting our core business model."
IMVU immediately joins Alloy Media + Marketing's top ranked media content and advertising network, the Alloy Digital Network (http://network.teen.com), comprised of more than 40 million active youth consumers. IMVU will work closely with Alloy's dedicated youth focused digital sales and production team for the development and execution of effective advertising programs connecting clients with IMVU's large audience, who spend on average more than 60 minutes per day in the environment. Advertising opportunities include banner and video display ads, as well as custom programs consisting of animated environments, branded virtual goods and in-world video sponsorships.
"IMVU's virtual community offers a compelling environment with built-in utilities that will appeal to a wide range of marketers," Jamie Elden, Vice President, Digital for Alloy Media + Marketing commented. "IMVU ideally complements our growing network of engaging, youth focused web platforms under the Alloy Digital Network, and we look forward to extending advertising opportunities within its community."
Currently ranked #1 by comScore in its category, the Alloy Digital Network has enabled a growing list of advertisers, such as Paramount Pictures, MGM, LG Mobile Phones, Sears Holdings and Pentel, to successfully connect with young consumers.
IMVU's new head of sales, Danny Wright, has worked extensively with Fortune 100 brands such as P&G, Dell, Samsung, and AT&T, and media companies like MTV, Bravo and the BBC. He started his career in the music business, and has held positions at Arista Records, Columbia Records and Universal Records, among others.
Founded in 2004, IMVU Inc. (www.imvu.com) is an avatar-based social network and virtual world where people meet and interact in 3D. IMVU was named to the OnHollywood 100 List in 2009, won the 2008 Virtual Worlds Innovation Award and was also named a Rising Star in the 2008 Silicon Valley Technology Fast 50 program. The company has already reached major milestones, including 35 million registered users, 100,000 registered developers and more than $1.5 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 more than 2.5 million items. IMVU is backed by top venture investors Best Buy Capital, Menlo Ventures, Allegis Capital and Bridgescale Partners and is located in Palo Alto, CA.
About Alloy Media + Marketing
Alloy Media + Marketing (AM+M) (NASDAQ: ALOY) is one of the country's largest providers of marketing and media programs reaching targeted consumer segments. Alloy manages a diverse array of assets and services in interactive, display, direct mail, content production and educational programming. Alloy works with over 1,500 companies including half of the Fortune 200. For further information regarding Alloy, please visit our corporate website at www.alloymarketing.comwww.alloymarketing.com.