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(Pocket-lint) - Moshi Monsters, the child-friendly social network described as Facebook for kids, has announced that it has now hit a whopping 50 million registered users worldwide.

The British-based company behind the operation was reportedly on the brink of going under back in 2008, but is now likely to generate over £60 million in total gross retail sales of all Moshi Monsters related products in 2011.

Back in April Mr Moshi himself, CEO and founder of parent company Mind Candy, Michael Acton Smith, told Pocket-lint that as well as the massively successful online network, we will also be seeing Moshi-branded gadgets emerging once a Moshi TV platform is put in place.

Mind Candy is also in talks with the relevant bods with regards to music projects, live tours and a Moshi movie.

“We’re thrilled to see Moshi Monsters experience such rapid growth across the globe,” said Michael Acton Smith, CEO and founder of Mind Candy.

“We’ve hit 50 million users and have even more ambitious plans ahead. Our vision is to build the largest entertainment brand in the world for this new digital generation of kids.”

You could, therefore, say that Moshi Monsters is a roaring success. A roaring success - because of the monsters...get it?

We'll fetch our coat.

See also - Moshi Monsters gadgets in the pipeline

Writing by Paul Lamkin.