Second Life Scores $11 Million

News.com reports that Second Life, the virtual world run by Linden Labs, has netted $11 Million in venture capital funding from the Globespan Capital Partners group. From the article: "The company makes its money by charging players use fees for land they buy and build on. For now, the company isn't profitable, and it's not clear when it will be, said Catherine Smith, Linden Lab's director of marketing. However, she told CNET News.com that Linden Lab plans to use its new funding for aggressive international expansion, as well as for hiring intended to boost its infrastructure. "

Comments

why pay someone...

[Chimera512]

for a second life when i have a hard enough time paying for the first one?

From the Money-Down-The-Rathole dept.

[KimiDalamori]

Has second life ever made any profit, ever? Granted that the people who invested think that there is money to be made in 2nd life, but I see 12-year olds running virtual brothels ( http://www.alphavilleherald.com/archives/000049.ht ml ) as the game's only economic vehicle for making any sort of US currency. I suggest that if they want to blow money, I have a bridge in a MUD that I can sell them.