South Korea’s Nurien raises $10 million for fashion-oriented virtual world
Nurien Software has been making a splash with its demos of virtual characters dressed as fashion models striding down runways in virtual fashion shows. This strategy has helped the company raise $10 million in a second institutional round of funding.
The funding suggests that investors are still excited about virtual worlds. According to market researcher In-stat, virtual worlds are expected to hit 1 billion registered users and $3 billion in revenues by 2012. And since Nurien… Continue Reading
Chinese web video site PPS.TV snags $20M
PPS.TV, a Chinese online video site that attracts over 100 million monthly users, raised $20 million in third-round financing led by LB Investment and including contributions from Ceyuan Ventures and Qiming Venture Partners.
The three-year-old company, previously received backing from Ceyuan and Qiming in 2005 and again in 2007. With 7 million users visiting the site each day, it has already lapped major rivals PPLive (4 million daily users) and UUSee (2.7 million daily users), according… Continue Reading
Nurien Software raises $15 million for Asian social networking and gaming service
Nurien Software, a Korean social networking and online gaming company, has raised $15 million in a first round of venture capital from investors in the U.S. and China.
The company lets users create their own avatars and then socialize in a variety of topic areas. Its service has been in development for three years. Investors include Beijing-based Northern Light Venture Capital, Globespan Capital Partners, New Enterprise Associates, and QiMing Venture Partners.
The company is a closed beta… Continue Reading