Monday, January 17, 2011

Cheezburger Lands $30M

Seattle-based Cheezburger, the Internet publishing site which runs I Can Has Cheezburger?, FAIL Blog, and other humorous Internet content and meme sites, announced this evening that it has raised $30M in an investment round. The firm, headed by Ben Huh, 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 told Northwest Innovation. More information »