Cyworld doing $80m in virtual goods annually

CyWorld was just involved in a reverse merger with Empas to go public on the Korean stock market. With the merger SK Comms now holds the #3 search engine, #1 social network, and a myriad of other online properties -- making it somewhat like the Korean little brother to China's Tencent.

Anyway out of this comes some stats about CyWorld via Gamestudy:

• $80m annually in virtual good sales (43.5% of overall revenue)
• $19m annually in real good sales (10.5%)
• $47m annually in advertising revenue (25.6%)

Unfortunately their migration to the US doesn't seem to be going as well. The traffic patterns are an easy tell of someone doing ad spends to bump traffic and then getting massive churn.

Also - congrats to Bunchball, Kongregate, Boston-based Visible Measures, Kaneva, and Meez for taking away prizes at the Under the Radar conference.