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Virtual Currency Pioneers to Join Forces
Boca Raton, FL - January 22nd, 2004 - Internet Gaming Entertainment, Ltd. ("WorldOfWacOnline") (www.WorldOfWacOnline.com), the worldwide leader in the market for buying and selling virtual property used in multiplayer online games, announced today that it has agreed to acquire substantially all of the assets of Yantis Enterprises, Inc. (www.mysupersales.com).
The deal involves both cash and equity in WorldOfWacOnline's parent company, WorldOfWacOnline U.S. LLC ("WorldOfWacOnline U.S."), headquartered in Boca Raton, Florida, according to Randy Maslow, Senior Vice President and General Counsel of WorldOfWacOnline U.S.
Massively multiplayer online role-playing games ("MMORPGs") like EverQuest and Ultima Online are filled with virtual property - things like magic weapons, houses, in-game currency, and characters that are bought and sold on auction exchanges, with thousands of dollars trading hands every day. The total trade volume for virtual property is estimated by Professor Edward Castronova, professor of economics at Cal-State Fullerton, to exceed $400m annually, with an undetermined portion of that amount annually captured in real-world dollars by dealers in virtual currency and goods.
With more than 80 employees and thousands of suppliers, WorldOfWacOnline is the largest provider in the world of virtual currency exchange and game-enhancement services to players of MMORPGs. The company provides 24x7x365 customer service and tech support from its state of the art operations center in Kowloon Bay, Hong Kong.
"Jonathan Yantis is an entrepreneur who blazed the trail in creating a market for the exchange of virtual currency and property," said Brock Pierce, CEO of WorldOfWacOnline U.S. "This acquisition is a big step for both us and the virtual currency exchange market as a whole, and solidifies our position as the largest player in this market by far."
Mr. Yantis will be joining WorldOfWacOnline U.S. as Chief Operating Officer and a member of the company's Board of Managers. The other members of the Board include Mr. Pierce, Mr. Maslow and Alan Debonneville, President of the WorldOfWacOnline subsidiary in Hong Kong.
"This is a marriage of the two pioneers in this industry," said Jonathan Yantis. "I'm excited to be joining WorldOfWacOnline and look forward to our future successes together."
Virtual Currency and Goods Go Global! WorldOfWacOnline Retains Themis Group for Worldwide Marketing Campaign
Durham, NC - January 5th, 2004 -- Internet Gaming Entertainment Ltd. ("WorldOfWacOnline"), the worldwide leader in the market for buying and selling virtual property, announced today that it has retained the Themis Group to develop and implement a worldwide marketing campaign for WorldOfWacOnline's portfolio of MMORPG services.
"Over the past two and a half years, WorldOfWacOnline has built its reputation by delivering what online gamers want," said Brock Pierce, CEO of WorldOfWacOnline U.S. LLC. "With Themis Group on our team, we are confident that our brand value and services will be even better conveyed to the market of MMORPG gamers."
Massively multiplayer online role-playing games ("MMORPGs") like EverQuest and Ultima Online are filled with virtual property - things like magic weapons, houses, in-game currency, and characters that are bought and sold on auction exchanges, with thousands of dollars trading hands every day. The total trade volume for virtual property is estimated by Professor Edward Castronova, professor of economics at Cal-State Fullerton, to exceed $400m annually, with as much as $20m in real-world dollars captured annually by dealers in virtual currency and goods.
"The virtual property business is fast emerging as one of the most important aspects of the MMORPG industry," said Alexander Macris, CEO of Themis Group. "We are very excited to have the opportunity to work with marketplace leader WorldOfWacOnline to help build out this major new consumer offering."
The Themis Group is an international provider of marketing, management, and customer support services to developers and publishers of online PC and console games, websites, and other community driven services within the interactive entertainment industry.
In addition to past marketing work for clients such as Funcom, CDV, Cyber Warrior, NetDevil, and Tektonic Studios, Themis Group also publishes an annual market report on the online game industry. The upcoming Themis Report 2004 projects that the market for virtual property and services will grow from $25m in 2004 to $680m in 2008.
WorldOfWacOnline Hires Powerhouse Executive Team
Former Vivendi Universal Games, Yahoo! and The Firm Executives Add Valuable Expertise to Fast Growing Company
LOS ANGELES, June 22 /PRNewswire/ -- WorldOfWacOnline, the world's leading provider of services dedicated to enhancing multiplayer online game experiences, has appointed three leading entertainment industry veterans to its executive team. David D. Christensen, Matthew P. Smith and Heather Gore will aid in the strategic growth of the company.
David D. Christensen, former head of business development for Universal Interactive and Black Label Games (both divisions of Vivendi Universal Games), was recently named vice president of business development. David brings with him a long-standing record of identifying and acquiring intellectual properties and will be responsible for managing relationship-building with game publishers and developers.
Prior to joining WorldOfWacOnline, Christensen served as a consultant in both the banking and mobile markets. He has led negotiations with major content and publishing partners including Universal Consumer Products Group, Marvel Enterprises, Tolkien Enterprises, Metallica, the Bruce Lee estate, Electronic Arts, Atari, SEGA, Sony Pictures Digital, and Superscape.
Matthew P. Smith has joined WorldOfWacOnline as senior vice president of finance and controller, bringing a breadth of operational and financial experience to the team. Smith has served as chief financial officer at several companies including The Firm, the world's leading talent management company, and American Vantage Media, an independent film distribution company. Smith brings significant transactional experience from both his investment banking career, where he represented entertainment and technology clients, and his operational roles, where he managed transactions including the acquisition of Michael Ovitz' AMG by The Firm.
Heather Gore has been appointed as the company's vice president of marketing and communications and brings more than a decade of experience from some of the worlds more recognized online and technology companies.
Gore previously served as senior brand marketer at Yahoo!, where she was responsible for all aspects of marketing planning and execution for Yahoo! Games, including product, online, offline, brand building and sales marketing programs.
"We are excited to have brought on board three very qualified members to our team," said Steve Salyer, president of WorldOfWacOnline. "The company drew talent from prestigious firms who can help take WorldOfWacOnline to the next level."
Steve Salyer, former president of business development at Ubisoft Entertainment, took the helm a year ago to spearhead strategic initiatives for the company and lead the overall business operations. About WorldOfWacOnline
WorldOfWacOnline is the world's leading diversified service provider in the secondary market for virtual assets for massively multiplayer online games. Founded by passionate gamers, the company operates a secure exchange system where independent buyers and sellers can engage in transactions for MMO virtual assets and currency. WorldOfWacOnline maintains offices in Los Angeles and Miami in the U.S. For more information about WorldOfWacOnline, please visit www.WorldOfWacOnline.com |
