Overall, virtual gift sales at mig33 grew sharply over the course of the year. During Q1, sales averaged just over 2 million per month; by Q4, that figure had grown to well over 4 million.
mig33 is modelled on successful East Asian social networking services such as Japan's GREE and China's Tencent QQ, valued at USD$2.5 billion and US$43 billion (about R300 billion), respectively. However, mig33 differentiates itself by bringing mobile community and entertainment to billions of consumers residing in the emerging, mobile-first markets of Indonesia, India, South Africa, and many others.
"Virtual gifts were a focal point of mig33's development efforts around social entertainment in 2010, and our efforts there were well-rewarded," said CEO Steven Goh. "We continue to customize our offerings, developing to local cultures and tastes, and view gifts as one part of a whole network of entertainment and communications services. Those are the things that set mig33 apart as we seek to become the QQ for the rest of the mobile-first world."
The world's bestselling virtual gifts include the "Big Hug" "Kiss," and "Best Friend" items.
mig33 claims to be the world's largest mobile-first social entertainment service, connecting over 40 million registered members around the world with chat and entertainment everyday, and hosting a fast-growing virtual economy. Launched in late 2005, the company is backed by Silicon Valley venture firms Accel Partners, Redpoint Ventures and DCM, GREE Inc. and many others. For more information, go to www.mig33.com.
