Laguna Beach,
Calif. – Makena Technologies, the
builder of virtual worlds and operator of online virtual world There.com, has
announced plans to shutter the 12-year-old service on March 9, VentureBeat
reported.
Founded in 1998, There.com has to date raised some $35 million in
venture capital financing.
Makena CEO Michael Wilson said in a blog post that
the company was hit by the recession, seeing revenues decrease.
The company
said that anyone who purchased "Therebucks" virtual currency after
Feb. 1 will have their purchases refunded in full.
In addition to There.com,
Makena has also created virtual worlds for MTV Networks.
Related Links:
http://snipurl.com/umwgo
(VentureBeat)
