JibJab Media Closes First Round Funding With Polaris Venture Partners

6/23/2006

Santa Monica, CA – June 22, 2006  —  JibJab Media Inc., best known for its presidential satires that have been seen around the world over 100 million times, today announced it has closed a first round of funding with Polaris Venture Partners.  The funding will be used to significantly expand the company’s original comedy programming efforts and to build out its online humor sharing community, JokeBox.

“Since founding the company in 1999, we have leveraged viral distribution to reach a massive audience and establish JibJab as a leading online comedy brand”, said JibJab co-founder and CEO, Gregg Spiridellis.  “During this next phase of growth we will extend our brand beyond animation into all forms of comedy programming and continue the build out of our network.  We’re thrilled to be working with Polaris to seize the opportunity to build a comedy network that extends beyond the browser to mobile devices and, ultimately, IPTV.”

In conjunction with the transaction, Jon Flint, Founder and Managing Partner General Partner at Polaris, joined JibJab’s Board of Directors.

“We are delighted to become partners with the Spiridellis brothers, who are truly unique talents,” said Flint.  “They combine the creative zaniness of the Marx Brothers with the business acumen of the Disney brothers.  JibJab has the potential to be the first great brand in comedy that was originated on digital media.”

Polaris Ventures is the sole investor in the company.  No other details about the transaction have been released.

About JibJab
JibJab Media Inc. is an online comedy network that has been pioneering digital entertainment production and distribution since 1999.  During the last election, the company’s animated satires “This Land” and “Good to be in DC!” were seen around the world, turning JibJab into an overnight, household brand.  Since then, the company has been featured in major media outlets such as The Tonight Show with Jay Leno, The Today Show, Good Morning America, CNN and FOX News.  In April 2006 JibJab launched an online humor-sharing community called “JokeBox” which is sponsored by Bud Light.  The company currently has an online distribution partnership with MSN Video and a mobile distribution partnership with V Cast.  

About Polaris Venture Partners
Established in 1996, with offices in Waltham and Seattle, Polaris has over $3 billion under management. The Polaris media portfolio includes Automattic, Choice Media, Experience.com, Heavy.com, TechTarget, Turbine Entertainment, Weatherbug, and World Championship Sports Network.  Polaris has helped build numerous market leading companies, including Accordant Health Services, Advanced Inhalation Research, Akamai Technologies, Allaire, Alnylam Pharmaceuticals, American Superconductor, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, deCODE genetics, Exchange.com, Matrics, Microbia, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, PSCI, SolidWorks and TransForm Pharmaceuticals.