Time Warner invests in teen virtual world Gaia Online

UpdateGaia Online, the virtual world for teens, siad media conglomerate Time Warner has invested an undisclosed amount in the company. Update: The amount was for a couple million, I’ve heard, and it was part of the previous round the company raised.

San Jose, Calif.’s Gaia says it has nearly three million monthly users. It also has a growing population of users on Bebo, who sign into the Gaia OMG application and play a miniature version of the virtual world (see our article from earlier today).

Time Warner movie studio Warner Bros. has previously shown movies within Gaia, via a virtual theatre.

Gaia has more than $1 million in virtual goods sold per month, and it sees around 100,000 completed transactions per day, it said.

The company has previously raised more than $20 million in previous rounds from DAG Ventures, which led the last round, as well as earlier investors Benchmark Capital and Redpoint Ventures. Update: It also raised a round last year from Sony.

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