Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Cheezburger: I Can Has Internet Memes

lolcats.ju.top.jpg By Laurie Segall, staff reporter


NEW YORK (CNNMoney) -- Fresh off a $30 million funding round, Internet publisher Cheezburger Network -- known for FAIL blog and LOLcats -- is expanding its New York presence by acquiring Know Your Meme.

Neither party would disclose financial details of the deal, which is rumored to be in the low seven figures.

The Web publisher known for inventing memes will now own a site dedicated to documenting them.

"There was a vacuum in our publishing portfolio," Cheezburger founder Ben Huh says. He believes Cheezburger's readers will benefit from the addition of a site that explains viral content and evolution of stories on the Internet.

So what exactly is an Internet meme?

Were you singing Rebecca Black's "Friday" on repeat, or asking the towel-clad "Old Spice Guy" questions on Twitter or Facebook? Remember the Double Rainbow dude?

If the answer is yes, you're familiar with a "meme" -- a catchphrase (think of Charlie Sheen's #tigerblood) or a concept that becomes a byproduct of the Internet, spreading through e-mails, blogs and social networking sites.

"We try to provide a coherent timeline on how these phenomena evolve and develop through conversation," says Know Your Meme editor Brad Kim.

Know Your Meme began as an extension of video blogging site Rocketboom.

Huh plans to expand the site's team of four employees, and to devote additional resources to building a data-based tracking system that will monitor trends from the moment they go viral.

"As Internet culture becomes greater and greater, we'll know much more about how culture is created because we'll have documented it," Huh says.

The acquisition is also a part of Seattle-based Cheezburger's expansion strategy.

"We're planning on grow our presence in New York," Huh says, citing "a significant number of people in New York that love Internet culture." To top of page

Index Last Change % Change
Dow 16,374.76 23.38 0.14%
Nasdaq 4,733.50 -16.48 -0.35%
S&P 500 1,951.13 2.27 0.12%
Treasuries 2.17 -0.02 -1.14%
Data as of 4:38am ET
Company Price Change % Change
Bank of America Corp... 15.94 0.09 0.57%
Apple Inc 110.37 -1.97 -1.75%
Freeport-McMoRan Inc... 10.13 0.23 2.32%
Intel Corp 29.08 0.48 1.68%
Frontier Communicati... 5.52 0.31 5.95%
Data as of Sep 3
Sponsors

Sections

Americans are transforming how they eat -- paying more attention to the origins of their food and how it's made. And Kimbal Musk is at the forefront of a movement that is accelerating the rate of change. More

The Labor Department releases its August jobs report on Friday, and it will have big implications for the Federal Reserve. More

The BauBax travel jacket, with 15 built-in features, needed $20,000 on Kickstarter, but got $9 million. More

Pimco's famous fund once managed by star manager Bill Gross has less than $100 billion in management for the first time since 2007. More