mEgo has raised $2.5 million in a second round of angel funding. mEgo lets users create widgets with avatars that serve as a central point for all their social media information.
IMVU closed a $10 million Series D round of investment led by Best Buy Capital with participation from existing investors Menlo Ventures, Allegis Capital and Bridgescale Partners. IMVU says it will use the money to invest in continued development of its community, which has grown to more than 30 million registered users. The company monetizes off of a virtual goods catalog, which boasts over 2 million user-created items and is proving especially attractive to investors as the advertising market shrinks. IMVU says it currently generates over $1 million a month in revenue, 90% of which comes from the sale of credits for purchasing and selling virtual goods.
Moggle Raising $10M for Development Platform
It announced yesterday that it had signed two deals to help it raise several rounds of financing this year. RCF SA, a Swiss banking firm, will work with Moggle on a variety of investment and banking issues, including raising equity outside of the U.S. Alexander David Securities Limited, a London-based securities firm, will serve as lead corporate financial advisor and broker for Moggle in the United Kingdom, help the company enter the London Stock Exchange's, AIM market and raise private equity capital outside of the U.S.
Moggle, which is working on a platform to develop at the convergence of MMOGs, virtual worlds, and social networks, says it is raising $10 million in two equal rounds this year. The first is set to close next month.
Monday, January 26, 2009
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