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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,810.06 91.06 0.51%
Nasdaq 4,712.97 11.10 0.24%
S&P 500 2,063.50 10.75 0.52%
Treasuries 2.32 -0.02 -0.86%
Data as of 5:56am ET
Company Price Change % Change
Bank of America Corp... 17.12 0.12 0.71%
Kinder Morgan Inc 39.75 -0.17 -0.43%
Apple Inc 116.47 0.16 0.14%
Intel Corp 35.59 -0.36 -1.00%
Microsoft Corp 47.98 -0.72 -1.48%
Data as of Nov 21

Sections

This arrangement, announced Friday, illustrates how the lines have blurred between traditional TV networks and newfangled options like Netflix. More

The Obama administration is touting that its immigration action will boost wages. But the hike amounts to only $170 a year by 2024. More

Obama doesn't have the authority to create a startup visa, but part of his reform announcement could include a workaround for entrepreneurs: 'parole status.' More

Nearly half of all Americans say there's a chance they'll have to work during a holiday between Thanksgiving and New Year's, according to a new poll. And one in four say they'll have to work whether they want to or not. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.