NEW YORK Sulake Corp., the Helsinki, Finland-based company that manages the teen-targeted virtual world Habbo, reported $74 million in revenue for 2008.
The company’s momentum was buoyed by a strong December, said officials, when sales increased by 20 percent. During that month, Habbo.com’s traffic also reached a new zenith, as the site attracted 11.5 million unique visitors globally, per Google Analytics.
While Habbo is advertising-supported, the international digital hangout is one of a handful of kids Web properties that has built a successful business around selling virtual goods, such as clothing and accessories users can purchase to enhance their virtual selves. To date, the site's users have created 121 million Habbo avatars.
Timo Soininen, CEO of Sulake, said the company has found success by continually refreshing content and regularly offering users new virtual goods. Advertising is the next business segment Habbo hopes to focus on.
"We are confident that our Habbo business model, which is based primarily on user sales and supported by advertising, is a clear strength in the current economic climate,” said Soininen. “We do see an opportunity to grow our revenue with advertisers looking for targeted and cost-effective social media solutions.”