SAN FRANCISCO, Calif., 30-JUL-2009 10:00 PM
In 2008 Hip Digital Media from Canada reputedly acquired vSide for USD$40 million, today ExitReality (3D Internet company) announced the acquisition of San Francisco-based vSide to create a global 3D teen experience with its existing groundbreaking technology.” vSide is a rich virtual world where every user gets an apartment to decorate and throw parties. Users can hang out with their friends, shop, listen to music, play games, watch videos or go out clubbing in one of three stunning neighborhoods”, said ExitReality CEO and Founder, Danny Stefanic.
vSide demographics skew toward 13-18yrs whereas ExitReality audience are more in the range of 18-35. ExitReality plans to continue to run and develop vSide without any major changes. “With this acquisition we have a great demographic spread that will appeal to more brands. ” Danny added.
Doppelganger, the developers of vSide, were acquired by Canadian company Hip Digital Media in August 2008 for a rumored $40 million after having spent over $26 million on the development of the platform and successfully attracting brands such as the Pussy Cat Dolls, Tyra Banks and MTV. Doppelganger was backed by leading VCs ComVentures, Greycroft Partners, KPG Ventures, Trident Capital, Draper Richards and Draper Fisher Jurvetson.
ExitReality acquired the platform and vSide virtual world to add to its suite of virtual worlds products. With ExitReality every existing website can be experienced as a virtual world, for example Facebook profiles become 3D apartments. ExitReality has integrated with leading social networks which has attracted brands such as Carls Jr., Hardees, WarnerBros and Paris Hilton.
“vSide have successfully created a fun high quality experience for its users with a focus on engagement, retention and yield. We were excited to find out when it comes to revenue per user vSide is in the league of other virtual worlds such as Habbo, IMVU and Club Penguin.” said Danny.
ExitReality is a privately-held company with offices in San Francisco, London and Melbourne Australia.
Terms of the transaction were not disclosed.
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