Mfarhanonline Social Media News: The Cheezburger Network is about to get meatier; the LOL behemoth just announced the acquisition of cataloger of Internet culture, Know Your Meme . Cheezburger founder and CEO Ben Huh says acquisition talks started in January, and the deal closed last Monday. Tubefilter News is reporting that Know Your Meme cost Huh and Co. seven figures, but Huh wouldn’t confirm this with Mfarhanonline . Know Your Meme , a spinoff of Rocketboom founded in 2008, is a site dedicated to researching and documenting viral culture. Users can submit memes for consideration, and then the staff decides which ones are valid enough to research and document. “We see ourselves as an entertainment destination,” Huh says of the acquisition. “It helps to build a context and know your origins… So much of Internet culture is new, and we thought it would be good if people could know the history of that culture.” According to Huh, the staff will remain in place, which means that the Cheezburger Network will now have a New York City base as well as a Seattle office. Huh also plans to expand the staff and cover more content, a formula he has also applied to acquisitions like The Daily What and Sketchy Santas . This deal comes on the heels of a recent — and sizable — round of funding for the Internet culture network. In January, it scored a $30 million Series A led by Foundry Group, with participation from Madrona Venture Group, Avalon Ventures, and SoftBank Capital as well. More About: Ben Huh , cheezburger network , humor , know-your-meme , pop culture , Rocketboom , viral video For more Media coverage: Follow Mfarhanonline Media on Twitter Become a Fan on Facebook Subscribe to the Media channel Download our free apps for Android , Mac , iPhone and iPad Social Media reviews series maintain by Mayya
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