Comedy site JibJab raises $7.5 million, no joke
JibJab, the site that spawned original comedy videos and customizable animated greeting cards, has raised $7.5 million in a third round of funding, according to TechCrunch.
The site is known for its parodies and original funny shorts, many of them skewering politicians and the government, like 2004’s This Land:
JibJab also offers irreverent greeting cards you can e-mail to your friends (yes, you can customize the cards with friends’ faces). Many of them are free, while the premium greeting cards will cost you. The company makes money through yearly subscriptions of $15.99 for exclusive content and “sendables”, as well as personalizable gifts like coffee mugs, mousepads and prints.
JibJab was behind OfficeMax’s mega-popular ElfYourself holiday greeting campaign this year, where users can stick friends’ faces onto the bodies of dancing elves, which contributed to its holiday traffic, reported at 60 million visits (over 35 million personalized eCards were sent). The company says it has 6 million registered users, though it did not disclose how many pay for the site’s services, notes NewTeeVee.
Competitors include Will Ferrell and Adam McKay’s irreverent video site FunnyorDie, which counts HBO as an investor. Funny or Die has been promoting HBO original comedy series Flight of the Conchords lately as well as upcoming new series for the cable network. Promotion of new and existing television shows and films is likely to be part of JibJab’s next phase, considering that new investors include Will Smith’s production company and a major TV and film production/distribution company.
Investors in this round are Overbrook Entertainment, Sony Pictures Entertainment and previous investor Polaris Venture Partners. JibJab’s first round in 2006 was $6.4 million, from Polaris, which added $3 million in a second round in 2007.
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