San Francisco - Linden Lab, developer of the "Second Life" virtual world, announced on Wednesday that it has acquired two Web-based marketplaces for virtual goods, Xstreet SL and OnRez.

Financial terms of the transactions were not disclosed.

San Francisco-based Linden Lab says it will consolidate the two marketplaces on the Xstreet SL platform.

The company reported that residents of Second Life bought and sold more than $360 million worth of virtual goods and services in 2008.

There are currently more than 680,000 Second Life goods currently listed for sale online, including apparel, animations, vehicles, buildings and furniture.

"Linden Lab is expanding its footprint in the virtual world industry through four major initiatives -- localizing the Second Life experience in key markets around the world, simplifying the 'first hour experience' to broaden consumer adoption, enhancing the platform for enterprise users and building our virtual goods marketplace," said Mark Kingdon, CEO of Linden Lab.

Related Links:
http://www.businesswire.com/news/home/20090120006310/en

http://blog.secondlife.com/2009/01/20/xstreet-sl-and-onrez-to-join-linden-lab

http://xstreetsl.com

http://www.onrez.com