Cheezburger Network secures $30 million in first round of funding, LOL

No, seriously: Pet Holdings Inc, the company behind I Can Haz Cheezburger, FAIL Blog, Graph Jam and others, has just raised $30 million from a bunch of venture capital investment groups.

The company, owned by CEO Ben Huh, bought I Can Haz Cheezburger from its founders in 2007. Since then, it has gone from strength to strength, constantly adding new domains into the fold, and maintaining profitability "since its birth". This new round of funding, however, will let Cheezburger step up its hiring of new engineers, and enable the continued revitalization of its Web properties. Huh says a lot of the money will also be used "to experiment, to try to understand the market," a luxury the Network hasn't had for the last couple of years.

The Cheezburger Network, incidentally, attracts 16.5 million unique monthly visitors, which tally up a total of 375 million pageviews and 110 million video views.

Cheezburger Network secures $30 million in first round of funding, LOL originally appeared on Download Squad on Tue, 18 Jan 2011 05:45:00 EST. Please see our terms for use of feeds.

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Source: http://downloadsquad.switched.com/2011/01/18/cheezburger-network-secures-30-million-in-first-round-of-fundin/

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