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LOLCats Cheezburger Network picks up $30 million in funding
Posted by Andru Edwards Categories: Blogging, Corporate News, Funding, Startups,
Venture capital firms have thrown $30 million behind one of life's simplest pleasures: looking at funny pictures of cats and writing hilarious captions to go with them.
The Cheezburger Network, the company that owns the humor and feel-good site I Can Has Cheezburger?, just got a whopper influx of cash, which it says will be used to update existing sites and tools, expand its staff, and perhaps acquire new Web sites.
The investments are led by Foundry Group, Avalon Ventures, Madrona Venture Group, and SoftBank Capital. Brad Feld of Foundry, Greg Gottesman of Madrona, and Rich Levandov of Avalon will join the Cheezburger board.
The funding means "that we are going to be able to provide you with even more content and an even better user experience," Jen Nausin, marketing director for the Cheezburger Network, said in a blog post. "As it relates to specific features, this might sound crazy, but honestly, we're not sure what's coming yet. We're a company that's about testing ideas and understanding what our users want from us so keep your feedback coming!"
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