Cheezburger Blog Network Raises $30 Million
The Cheezburger network of websites include FAIL Blog and LOLcats. The company has raised $30 million in funding led by the Foundry Group, Avalon Ventures, Madrona Venture Group, and SoftBank Capital. Brad Feld (Foundry), Greg Gottesman (Madrona), and Rich Levandov (Avalon) will be joining the board of directors at Cheezburger. I Can Has Cheezburger now has a total of $32.5 million.
Ben Huh founded Cheezburger in 2007. Now there are about 50 websites in the Cheezburger network of websites and they has a user base of about 16.5 million people that have uploaded 500,000 pictures and videos. Between all of their pictures and videos, the Cheezburger network sees about 375 million pageviews and 110 million videos per month.
Huh plans on increasing their staff size from the existing number of 50 people. The company is also planning on expanding internationally.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry