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Advertising - Thursday, December 20, 2007

National Lampoon Invests In Capazoo's SocNet

National Lampoon - yes its a public company (AMEX:NLN) - has formed a partnership with social network Capazoo.com. National Lampoon will provide online video content and co-branding. National Lampoon has also acquired an equity stake in Capazoo.

Montreal-based Capazoo mixes the social network built around celebrity draws (like MySpace) with financial attractions that promise to make power users real money (like Second Life).

Capazoo has reportedly raised over $25M in private capital. But a number of sites and comments have cast Capazoo as a ponzi scheme. One roundup has it that Capazoo has been raising funding from wealthy athletes who are clueless about the Internet. (One of the company's founders - Grant Carter - was once a pro football player. )This post indicates that Capazoo last raised $7M at a $125M valuation. Others have indicated that the startups headcount got up to 100 and it was missing payroll. Capazoo's PR team denies that it has missed payroll and points to the deal with National Lampoon as evidence that the company has traction.

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