Time Warner invests in teen virtual world Gaia Online
Update
Gaia 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.
Next Story: Earth Class Mail takes $13.3M to turn snail mail to e-mail
Previous Story: “Green brick” turns waste into money
About the Author, Eric Eldon
Eric currently covers digital media technology and business news, especially what's happening on social networks and their platforms. He also writes and edits stories about venture capital, and lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a startup called Writewith, that was building editorial software for newspapers and other groups of writers. The startup didn't work out, but he learned a lot.
-
actionprincess
-
jinx of the shadows
-
edhardy622