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Virtual social network IMVU raises $35M from China’s NetEase and others

Virtual social network IMVU raises $35M from China’s NetEase and others

3 years ago
Anonymous $K6XgmDN5_o

https://techcrunch.com/2021/01/25/imvu-35-million-funding/

The line between social networking and gaming is increasingly blurring, and internet incumbents are taking notice. NetEase, the second-largest gaming company in China behind Tencent, is among a group of investors who just backed IMVU, an avatar-focused social network operating out of California.

Menlo Park-based Structural Capital among other institutions also joined in the strategic round totaling $35 million. IMVU has raised over $77 million from five rounds since it was co-founded by The Lean Startup author Eric Ries back in 2004. The company declined to disclose its post-money valuation.

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