Virtual Currency Helps IMVU Turn A Profit

MEDIAPOST — Showing the maturity of a still experimental market, virtual world IMVU says it has achieved profitability, and doubled its revenue to $25 million year-over-year. Founded in 2004, the avatar-based virtual world says it grew revenue primarily by increasing the sale of virtual currency, which is used to purchase virtual goods like clothing, detailed facial features, and furniture. "We're a lot like eBay, which takes a small percentage when goods are sold between its members," said Cary Rosenzweig, CEO of the Palo Alto, CA.-based IMVU...