In a recent published article, Dean Takahashi from VentureBeat was right on mark when he explained the intricacy of the company success. Mr. Rosenzweig cites China’s Changyou.com being the complimentary company to IMVU.com.
During a private conference call with CEO, Cary Rosenzweig selected a few selected reporters; I was privy to view a press presentation. The numbers and statistics are impressive. From the company’s inception in 2004, rigorous testing in quality control insured the pace of production, membership, and company growth. Steady stewardship seemed seamless and gradual. I remarked to Cary that I found his company historical growth exemplified a pragmatic approach to fiscal soundness. IMVU is the exception to the rule. On October 5th, the company announced they doubled their revenue in one year and hit the $25 million benchmark.
On the heels of the announcement, James Joaquin was added to its board of directors. Joaquin is a seasoned entrepreneur and strategist with 25 years of experience building and leading consumer technology companies.
IMVU grew its revenue primarily by increasing the sale of virtual currency to its members, who use that currency to purchase virtual goods ranging from clothing for their avatars to furniture for their rooms. IMVU’s catalog of virtual goods is the largest in the world, with more than 3 million items created by IMVU members. The daily production of items sold is valued at about 175,000. It is not to my surprise that IMVU Credits recently announced that the company has doubled its revenue in one year to a $25 million run rate and achieved profitability. At peak hours of game play and social network chats, the company estimates that there are close to 770,000 conversations and story lines being produced by members. Their virtual world and communities gain the marketing tools and technical support needed to support this 3D love fest.
“We’re proud to have grown revenue so quickly at a time when consumers have been cutting their personal spending,” he further stated. “We attribute our success to five years of hard work by our employees and to the creativity of our members. We’re investing most of our profits to hire more employees so that we can further improve the customer experience.”
The confidence and ease this CEO is apparent. I see IMVU Credits be a first to market with an emerging trends. The company has proven itself to be a gold standard with the world of 3D experience for the novice or professional designer.
If you are attending the Virtual Goods Summit 2009 in San Francisco, you will be able meet Lee Clancy and Cary Rosenzweig.















