Financing for a Web 2.0 joke

by Mathew on September 14, 2006 · 6 comments

Got any good Web 2.0 jokes? Maybe one of them might be worth financing for a million bucks or so — just like Dogster and Catster. The gang behind the social-networking sites for pet owners just raised some cash from a group of venture investors, including blogger Michael Parekh, Josh Schachter of del.icio.us and one of the guys who founded Hot or Not. As Matt Marshall at Venture Beat notes, the site is devoted to pet lovers — many of whom post journal or blog entries by taking on the character of their pets.

Dogster started as a satire on the (then) popular social-networking site Friendster — but it is a joke that has become a profitable business with revenue of $100,000 a month and other enviable “metrics,” according to VC blogger Jeff Clavier here (Jeff is a member of the syndicate of investors). It’s not the first Web 2.0 joke to get financing, however: Consummating, a dating site for geeks, also started as a joke and was acquired by CNET last year.

Does the fact that something which began as a joke got financing mean that financing for Web 2.0 companies is a joke? Feel free to discuss amongst yourselves. And have a look at possible buyout/financing candidates on this list. How long until Dogster using the million bucks to buy this site?

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