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Arctic Startup, quoting an article written in Finnish at Kauppelehti, the leading business magazine in Finland says:

The Helsinki based virtual goods operator Sulake saw a profitable first half in 2008. According to Kauppalehti, net profits were around 400 000 euros. The revenues rose approximately 20% to 25,6 million euros for the first 6 months of 2008. Majority of the sales came from sale of virtual goods in Habbo Hotels world wide. According to the company, the annual growth for 2008 will be around 30%.

Jussi Laakkonen also notes from the same source:

Sulake’s 22 M€ [of investment from 3i] is [quoted] from Kauppalehti, the leading Finnish business magazine, which calculated the total losses incurred by Sulake from its founding in year 2000 to end of year 2007 using public records. VC money raised is more than this.

Update: Virtual World News pulls in conflicting revenue reports over time for Habbo.

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  • http://www.answerjam.com Randy Korba

    i’m confused, is this habbo itself or just the goods seller in finland? implied habbo would be much bigger than that by orders of magnitude?

  • http://lsvp.wordpress.com jeremyliew

    @ Randy, Sulake is the publisher of Habbo, so this would be Habbo itself

  • http://www.answerjam.com Randy Korba

    yep — confused it with cyworld. lack of sleep mixing up countries with far more bandwidth than the US (or me!)

  • http://allantyoung.com Allan

    Jeremy –

    How are other virtual goods and virtual businesses performing in other countries? Would be nice to see a worldwide survey. Up for some collaboration?

  • http://www.erepublik.com alexis bonte

    Good news but on that sort of revenues I would expect higher profits.

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