The Cheezburger Network, owner of popular blogs such as ICanHasCheezburger, FAILBlog and PunditKitchen, has raised $30 million in venture capital. The network, responsible for many of the internet’s most widely circulated memes, was formed in 2007 by Beh Huh, and has grown to cover 50 user-generated blogs. The vast majority of the content is user […]
The Cheezburger Network, owner of popular blogs such as ICanHasCheezburger, FAILBlog and PunditKitchen, has raised $30 million in venture capital. The network, responsible for many of the internet’s most widely circulated memes, was formed in 2007 by Beh Huh, and has grown to cover 50 user-generated blogs.
The vast majority of the content is user generated with people using the site’s tools to create their own lolcats and other memes. The firm said the funding came from Foundry Group, Madrona Ventures, Avalon Ventures, and SoftBank Capital.
According to Cheezburger, the new funding will go toward hiring more employees, and other marketing and growth efforts.
Brad Feld of Foundry, Greg Gottesman of Madrona, and Rich Levandov of Avalon Ventures have all joined the firm’s board as part of the funding.
“Prior to this investment, we were limited by our revenue growth rate. Now, we can be profitable and take the necessary risks to grow organically.” founder Ben Huh said.
The Cheezburger Network, incidentally, attracts 16.5 million unique monthly visitors, which tally up a total of 375 million page views and 110 million video views.
