• January 10, 2008

Gaia Online, a virtual online world for teens, is now reporting that it received an investment from Time Warner late last year.

Financial terms of the deal were not disclosed, but the investment is part of a larger $12 million round of financing. Time Warner--the parent company of AOL--did not buy the right to exert any influence over the virtual world, which now reaches a reported 3 million users each month, who spend an average of two hours per day on the site.

Last month, Gaia Online announced a partnership with Warner Bros. to make both free and pay-per-view versions of the studio's films available in Gaia's virtual cinemas.

--Gavin O'Malley