Virtual Real Estate Site Weblo Raises $3.3 Million In Second Round

Weblo, a virtual world that has the aspects of Monopoly, has raised $3.3 million in second round funding from VantagePoint Venture Partners, VentureBeat reported. The site lets users buy virtual domain names for real places (e.g., “LosAngeles.com”) with actual money. These users can then appoint themselves mayor of the virtual city and then sell off properties there to actual bidders. VB describes it as something of a pyramid scheme, because users are encouraged to recruit others to do the same. The Montreal company secured $2.6 million in a first round, according to a report from April by Business 2.0 (via CNN Money). In the piece, Weblo CEO Rocky Mirza said he expected the company to hit $10 million in revenue by the end of this year.