Avatar and 3D virtual world company IMVU revealed that it doubled its revenue in one year to a $25 million run rate, achieving profitability. This was possible through a growth in sales of virtual currency to its users, who purchase virtual goods like avatar customizations and furniture for online spaces.

Launched in 2004, IMVU Credits more than 40 million registered users and six million unique visitors. Over 35,000 developers have sold their goods through IMVU in just the last 30 days, adding some 4,000 new items to the online world's catalog every day (IMVU takes a percentage from each sale).

The company recently established a new advertising sales and sponsorship group to work with its ad partners, installing music business veteran Danny Wright as the department head. After five years of relying on its direct sales profits, IMVU Credits hopes to boost its efforts and revenues in advertising to its audience.

"We're proud to have grown revenue so quickly at a time when consumers have been cutting their personal spending," said Cary Rosenzweig, CEO of IMVU. "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."