You provide considerable more value that the Cheezburger sites while including cats/kittens in addition to otters. My guess is that these factors alone push the MGo valuation even higher. One of the factors for placing the funding round was that one of the VC leads was a fan of the site. Soooo, any regular readers of the site who are also VCs need to pony up. Looking at you Larry Page! We need bigger servers when things go to hell so we don't get kicked off our source of counseling.
Cheezburger Can Has $30M in Funding
Internet publisher Cheezburger received $30 million in funding. Foundry Group of Boulder, Colo., led the investment with Madrona Venture Group, Avalon Ventures, and SoftBank Capital. Cheezburger plans to use the capital to hire more employees and fund other marketing and growth initiatives. Cheezburger is expanding its board to include Foundry Group’s Brad Feld , Madrona Venture’s Greg Gottesman and Avalon Ventures’ Rich Levandov.
Cheezburger was founded in September 2007 by Ben Huh, a former journalist turned dot com entrepreneur with a knack for nailing popular zeitgeist and has been credited with bringing Internet memes to the mainstream and popularizing Internet culture. Cheezburger counts a passionate fan base of 16.5 million people who upload more than 500,000 pictures and videos as well as view 375 million pages and 110 million videos each month. The company has been profitable since its inception with revenue from three sources — advertising, traditional media publishing including books, and merchandising.
“I have been a rabid fan of Ben and the Cheezburger team for years. It’s incredible what they’ve built with a small, dedicated team,” said Greg Gottesman, managing director of Madrona Venture Group. “As an investor, this one is as fun as it gets. We’re working with a great team, helping them grow an already massive audience, and testing new and exciting ways to monetize the funniest collection of sites on the Internet.”