TechCrunch blogger, Michael Arrington announced that he was one of the investors in the social networking website for dog lovers, Dogster and its sister site, Catster. Dogster attained a round of $1 million in funding last week and is in the top 10,000 most visited websites according to Alexa.

Arrington discussed in a TechCrunch blog post that the reason why he chose to invest in Dogster, even though Dogster’s founder, Ted Rheingold does not own a pet, was because the founders were able to manage operating costs efficiently and Dogster was profitable within 2 years of its inception. Another reason why Arrington invested in Dogster was because Michael (Mukesh) Parekh joined Dogster’s Board of Directors.

Mukesh is a former partner at Goldman-Sachs and was a lead research analyst for Yahoo! and eBay’s intial public offerings (IPOs). Mukesh also has a blog called Michael Parekh on IT.

Clearly this is a smart investment by Arrington as the entrepreneurs behind Dogster and Dogster’s new management team have a solid technical background and have attracted big name advertisers. If you have a dog, I highly suggested logging onto Dogster and joining the community.