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Cheezburger network raises $5M in funding for LOLcats, FAIL Blog, others

Cheezburger network raises $5 million in funding from existing investors

| Business, Financial & Legal News | Posted: Dec 28, 2012 10:02 pm

Rejoice! The priceless memes network Cheezburger will continue to be around. The network just raised $5 million in funding, according to an SEC filing. Foundry Group, Madrona Venture Group, Avalon Ventures, and SoftBank Capital, all existing investors, participated in the funding round.

 

TweakTown image news/2/7/27544_1_cheezburger_network_raises_5m_in_funding_for_lolcats_fail_blog_others.png

 

Cheezburger is planning on using the funding, a total of $37.5 million between this year and last, to build the company's social humor platform. Cheezburger is an online network of more than fifty sites owned by former journalist Ben Huh, who formed the company in 2007. The company is profitable, and has been ever since its inception.

 

Here's to many a good meme coming from the network of sites.

NEWS SOURCES:Techcrunch.com

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