MAY 21, 2008 – Red Herring today announced that Live Gamer, the premier operator of a publisher-supported marketplace for real money trading of virtual items, is a recipient of the Red Herring 100 North America, an award given to the top 100 private technology companies based in the region.

Live Gamer’s introduction of a fully legitimate real money trading platform has brought virtual item trading into the mainstream. Traditionally associated with massively multiplayer online games (MMOG), real money trading represents an estimated $1.8 billion1 in real money exchanged annually among MMOG players and virtual world inhabitants who buy and sell the rights to in-game goods, services, and even characters. Now major media companies and entertainment brands are embracing Live Gamer as a new way for their customers to extend and enhance their game play experience.

Said Andrew Schneider, co-founder and president of Live Gamer, “The concept of paying real money for virtual items used to be limited to hard core gamers, but today as more and more people express themselves online an increasing value is being placed on virtual items across demographics and online environments. Commerce is becoming a key part of the virtual community experience and we’re providing the platform to make that possible. It’s a great honor to be named by Red Herring as one of the top technology companies.”

"The large number of entries in this year's competition demonstrates that the economic slowdown has not affected technology innovation,” said Joel Dreyfuss, editor-in-chief of Red Herring. "The companies on this year's list are proof that creative ideas continue to find the funding that turns them into promising businesses."

Red Herring’s annual lists of top private companies are an important part of the company’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Red Herring’s editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

To honor the CEOs of Red Herring 100 North America companies, Red Herring invited each one to present his or her company at its Red Herring North America 2008 event, May 12-14, at the San Jose Fairmont. As the venue for the unveiling of the Top 100 private companies in North America, this event draws unparalleled attention from decision makers and industry observers across the continent. This year marks the 11th anniversary of the Red Herring 100 Awards. To celebrate this occasion, Red Herring 100 winners will share their successes and insights on how to make it to the top.

About Red Herring
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Live Gamer
Live Gamer is the leading provider for publisher-supported virtual item trading. Live Gamer’s Wall Street-developed platform combined with Sony Online Entertainment’s Station Exchange technology is trusted by top publishers worldwide and offers a turnkey solution for MMOG and virtual world operators to provide legitimate real money trading of virtual assets within their titles or via the Web, facilitating a safe and fair online environment for all participants. Based in New York, NY, the company was founded by industry veterans and backed with $24 million in venture funding from Charles River Ventures, Kodiak Venture Partners, and Pequot Ventures). (www.livegamer.com)

1 New York Times. June 17, 2007. “The Life of the Chinese Gold Farmer.” Julian Dibbell