Gaia Online gets $11 million funding
Gaia Online announced an $11 million Series C round of venture funding from Institutional Venture Partners (IVP).
Since its inception in 2003, Gaia Online has grown to one of the largest and most active immersive online communities for teens and young adults. Each month more than 5 million unique users socialize, play games, watch movies in the virtual cinema and express their individuality and creativity through customizable avatars and profiles. It has the highest average visit time among social networking websites, according to Hitwise.
“Gaia Online is one of the most exciting companies that we have seen in the online social community space,” said Norm Fogelsong, a General Partner with Institutional Venture Partners (IVP), a premier later-stage investment firm. “The breadth of activity available on the site and the level of engagement of the users are truly extraordinary. It is a privilege to be involved with such a strong management team, one that is leading the way in virtual goods transactions. We feel that Gaia Online is poised for explosive growth.”
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