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I Can Has Venture Capital? Cheezburger Network Raises $30 Million

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Cheezburger is in ur investment portfolio, spending ur cash. The publishers of online humor sites I Can Has Cheezburger?, FAIL Blog, Memebase and The Daily What have raised $30 million in funding. Venture capital firm Foundry Group, which also funded Zynga and Topspin, led the investment with Madrona Venture Group, Avalon Ventures and SoftBank Capital. Foundry Group managing director Brad Feld and Cheezburger CEO Beh Huh gave mbStartups the details.

“Ben and his team have built something that we think is pretty amazing,” Feld told mbStartups. “I think anybody who is part of Internet culture has seen pieces of the site, whether it’s something from FAIL Blog or one of the LOLs,” he said. Founded in 2007, the Seattle-based company owned by Pet Holdings, Inc. has attracted 16.5 million users, with 375 million page views and 110 million video views per month. “With very limited capital, they have [become leaders] in a category that’s emerged around user-generated content.”

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