IMVU Adds Ofoto Co-Founder James Joaquin to Board of Directors
Seasoned technology entrepreneur brings 25 years experience to virtual world's board
PALO ALTO, Calif., October 20, 2009 -- IMVU Inc., an avatar-based social network and virtual world where people meet and interact in 3D, today announced the addition of James Joaquin to its board of directors. Joaquin is a seasoned entrepreneur and strategist with 25 years of experience building and leading consumer technology companies. He joins IMVU's board on the heels of its October 5 announcement that it doubled its revenue in one year to a $25 million run rate and achieved profitability.
"Our board and executive team are excited to bring on someone with such proven success building strong online consumer businesses," said Cary Rosenzweig, CEO of IMVU. "James's experience will be a great addition to our board as we continue to grow."
Joaquin cofounded his first company at Brown University and sold it to Apple. He later went on to cofound When.com, an Internet calendar and events service acquired by AOL. Joaquin was a founding investor and CEO of Ofoto, and led the company from its beginnings through the sale to the Eastman Kodak Company. More recently, he served as a venture partner at Bridgescale Partners, a growth equity investment firm that is an investor in IMVU. Joaquin currently serves as the CEO of Xmarks, a startup focused on improving web search results, and is the chairman of the board of Pixelpipe.
"IMVU is just at the beginning of a great ride," said Joaquin. "I look forward to serving on the board as IMVU continues to grow and to improve its customer experience."
IMVU Inc. (pl.imvu.com) is an avatar-based social network and virtual world where people meet and interact in 3D. IMVU has reached 40 million registered users, 6 million unique visitors per month and a $25 million revenue run rate. IMVU has the world's largest virtual goods catalog of more than 3 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.