Money for Nothing: User-Generated Virtual Goods Cary Rosenzweig, CEO, IMVU Inc. May 5, 2010 Web 2.0 Conference.

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Presentation transcript:

Money for Nothing: User-Generated Virtual Goods Cary Rosenzweig, CEO, IMVU Inc. May 5, 2010 Web 2.0 Conference

An online community where members use 3D avatars to meet new people, chat, create and have fun with friends

Agenda IMVU Virtual Goods Key Learning

Company Overview Founded in 2004 Based in Palo Alto, CA 90 employees 3 institutional rounds $30M raised

Snapshot 3D avatars 50M+ registered users 10M+ uniques/month* User Generated Content 4 Million Items in Catalog *Source: Quantcast, global Cumulative Registrations Millions April 10Jan 06

2009 Results 2009 Raised $10 million in January, led by Best Buy Capital Doubled revenue to $22 million in calendar 2009 Became profitable and cash flow positive

Attractive Demographics 70% Female 60% 18+ years old 60% USA

User Generated Content 4 Million Virtual Items April 2004April 2010

2010 Outlook 2010 Double revenue again to $44 million End year at $60 million annualized revenue run rate Invest profits into hiring… from 60 to 120 employees Extend reach beyond English- and PC-only Begin pivot… Virtual World to Social Entertainment From Dress Up to Level Up Game Mechanics 2D and 3D Games

Virtual Goods

12 Thanks to PlaySpan & VGMarket Survey (n=2,425; 7/09) Free to Play Leads the Way - %

13 Thanks to PlaySpan & VGMarket Survey (n=1,736; 7/09) Free to Play Leads the Way - $

What are Virtual Goods?

Digital Items with Contextual Meaning

(A) Functional Virtual Goods

(B) Decorative Virtual Goods

Why Virtual Goods?

1. Enhance Game Play (kill more, run faster)

2. Express Your Identity (dress up, decorate)

3. Build Relationships (gifts)

4. Shop (browse & buy)

SOCIAL CONTEXT Provides Meaning & Emotion

Key Learning

Its all about community Key Learning Virtual goods are consumer products Payment options must be flexible UGC is hard Patience is a virtue

Q & A