Gaia Raises $11 Million For Its Teenage Virtual World

Funding Rounds

▤ Summary

Since our Virtual World Roundup last summer, the site has seen impressive growth, with a reported 5 million unique users monthly. Gaia Online is a self-described “teen hangout” that mixes elements of an avatar-based virtual world with mini-games, a social network, and a community forum. Members are rewarded for participating on each component of the site with an online currency (Gaia Gold) that can be used to purchase in-game virtual goods. Gaia will likely use the funding to continue development on its MMO (massively multiplayer online game), that it plans to release this summer. Other competitors in this space include Habbo Hotel and Club Penguin.

$ Funding

$
Amount $11.0M Total raised
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Date July 14, 2008 Announcement date
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Investors IVP, Ozie Group LLC Lead investors
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Company http://www.gaiaonline.com Funded company

▥ Classifications

industries
Entertainment
applications
Anti Piracy

◇ AskAI Classifications

Labels
Online Communities Gaming Virtual Worlds

▦ Linked Companies