Gaia Online, one of the world’s fastest-growing online hangouts for teens, says it has attracted $11 million in a new round of venture funding led by Institutional Venture Partners (IVP).

“Social networks and virtual worlds are constantly evolving as users become more involved and embedded, and at Gaia Online we are focused on bringing ‘Gaians’ experiences they will not get anywhere else,” said Gaia Online Chief Executive Craig Sherman. “With that capital, we are excited to continue to deliver

on that mission, while growing and developing new site elements to support the rapidly increasing interest in Gaia Online.”

appealing Demographics

Gaia’s announcement is the latest evidence that investors are betting big on virtual worlds. Venture-capital and media firms shelled out more than $345 million to 39 virtual worlds-related companies through the first six months of 2008, according to Virtual Worlds Management.

Investors think Gaia’s growing audience of teenage […]

Orginal post by Top Tech News