We live in a world without Dick Tracy, Brenda Starr, Little Orphan Annie and, now, Beetle Bailey, with newspapers failing right and left, Larry King gone and Regis Philbin to follow; fortunately, the strategic reserve of inane cat-themed art is doing just fine, thank you. Why can't TCE get some foundation or venture-capital bucks?
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So this is nothing to LOL at: The Cheezburger Network, an Internet publisher known for popular memes like LOLcats and FAILS, has just scored a $30 million Series A led by Foundry Group, with participation from Madrona Venture Group, Avalon Ventures, and SoftBank Capital as well.
What’s truly staggering about this news is not merely the sum, but the fact that this is the company’s first institutional round of funding — in the past, journalist-turned-entrepreneur Ben Huh and company bootstrapped and relied on a $2 million angel round and revenue to survive. (Huh reports that it has been profitable since its birth, raising money via advertising, old media (books, etc) and merchandising.)
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Mashable]