IMVU Recognized as One of America's Fastest Growing Private Companies
PALO ALTO, CA--(Marketwire - August 24, 2010) - IMVU, an online community and social entertainment network where members use 3D avatars to meet new people, chat, create and play with their friends, today announced that Inc. magazine named IMVU to its 29th annual Inc. 500 list, an exclusive ranking of the nation's fastest-growing private companies. For the past 30 years, the Inc. 500 list has served as evidence of the significant accomplishments and growth of a select few companies in America.
"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees and grown fast in difficult economic times."
Inc. magazine's Inc. 500 list represents the most comprehensive look at the most important segment of the economy -- America's independent-minded entrepreneurs. Companies such as Microsoft, Intuit, Zipcar, Clif Bar, Oracle, Zappos and many other well-known names gained early exposure as members of the Inc. 500.
"We are honored to be in the 2010 Inc. 500, which recognizes our 2009 revenue of $22 million, representing 657% three-year growth," said Cary Rosenzweig, CEO of IMVU Inc. "What's even more exciting is that 2010 is also a great year for IMVU, with revenue currently at a $40 million annualized run rate. This is a reflection of the great work performed by the IMVU community and our employees."
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
About IMVU, Inc.
IMVU, Inc. (www.imvu.com) is an online community where members use 3D avatars to meet new people, chat, create and play with their friends. IMVU has reached 50 million registered users, 10 million unique visitors per month and a $40 million annualized revenue run rate. IMVU has the world's largest virtual goods catalog of more than 4 million items, almost all of which are created by its own members. Founded in 2004, IMVU is backed by venture investors Menlo Ventures, Allegis Capital, Bridgescale Partners and Best Buy Capital and is located in Palo Alto, CA. IMVU is hiring for many positions, log onto http://www.imvu.com/jobs for more information.