It’s a typical path for successful entrepreneurs — take some of the new-found riches and recycle it by bankrolling other entrepreneurs. But that’s not something that Cheezburger CEO Ben Huh believes is the right course for him.
In an interview with The Wall Street Journal, Huh said he tried his luck at angel investing, but couldn’t quite figure out how to pick winners from losers when looking at various business plans.
“I did a bit of angel investing, then realized I don’t know what the f— I am doing,” Huh tells The Journal.
Even though the meme master isn’t investing his own money, Huh says that he’s involved in the startup community as an investor in Founder’s Co-op and Dave McClure’s 500 Startups. He’s also intimately involved in the mobile news startup Circa, a new venture that’s trying to transform the way people consume news.
Interestingly, Huh has benefitted from tapping into angel investors for his company, including Seattle super angels Andy Liu and Geoff Entress. The company raised a huge $30 million round in early 2011 from Madrona Venture Group, Foundry Group and others.
Huh also spoke about his company’s new reality TV show on Bravo, LOLWork, noting that he didn’t ask his board for permission about the show.
“If things go wrong, so what? We spent some time and took a risk,” he said. “If there’s an upside, well, lots more people who don’t know our site will probably visit it.”