ADOTAS – Beh Huh started The Cheezburger Network in 2007 by buying the first two sites and has expanded it to over 50. This company makes blogs like lolcats, FAILblog, PuditKitchen, and The Daily What. Amazingly, they have just recently raised $30 million in venture capital funding. This round of funding was lead by the Foundry Group and also included Madrona Venture Group, Avalon Ventures and Softbank Capital Group.
The vast majority of the content is user generated with people using the site’s tools to create their own lolcats and other memes. Any business whose product is free to build, nearly free to distribute and is capable of attracting millions page-views should not be too difficult to monetize. And that is exactly what the Cheezburger Network has done.
The Web publisher, which previously raised $2.25 million, is using the money to ramp up its attempt to build what chief revenue officer Todd Sawicki believes is “a media company for the digital age” with its collection of offbeat humor sites.
“We think we stumbled on a model that we thinks is the future of what digital media looks like,” he said.
He also says they plan to use the $30 million to expand internationally and improve their infrastructure. The real test will be to stay agile enough to quickly tap into the viral nature of their audience.