| Session Name: | Lessons from the Inside: Building and Optimizing a Virtual Goods Business |
| Speaker(s): | Lee Clancy |
| Company Name(s): | IMVU |
| Track / Format: | Social & Online Games Summit |
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| Overview: | Virtual goods are all the rage at the moment, but what does it take to actually build a successful, growing business around them? In this difficult economy, many businesses are looking into virtual goods sales as a new and lucrative revenue stream, but what challenges and pitfalls should these companies consider when launching or growing such efforts? A leading 3D virtual world and social network, IMVU's 40 million registered users purchase a wide range of user-generated virtual goods, from clothing for their avatars to furniture for their virtual rooms. These products are made by more than 100,000 registered developers, all outside the company, but they drive 85% of IMVU's growing revenue. |
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