PALO ALTO, CA — June 29, 2010 — IMVU, an online community where members use 3D avatars to meet new people, chat, create and play with their friends, today announced that the company has been selected as a 2010 Red Herring 100 North America Tech Startup. Now in its eleventh year, the program honors the leading private companies from North America for technological innovation in their respective industries.
“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe IMVU embodies the vision, drive and innovation that define a successful entrepreneurial venture. IMVU should be proud of its accomplishment, as the competition was very strong.”
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America.
“Being named a Red Herring 100 North American award winner is a real honor for all of us at IMVU,” said Cary Rosenzweig, CEO of IMVU, Inc. “We’re proud to be recognized alongside a very impressive list of some of the most successful technology companies in recent history.“
About Red Herring and the Red Herring 100 North America Award
Red Herring is a global media company uniting the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. For more information visit www.redherring.com.
About IMVU, Inc.
IMVU Inc. 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 www.imvu.com/jobs for more information.
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