Sequoia Capital’s initial small investment in Will Ferrell’s FunnyOrDie.com is now up to several million dollars, a detail buried in today’s NYT look at the mixed record Hollywood has with humor sites. Only a month old, the humor site seems poised to be a hit. Unlike other humor sites that have been around longer, like the IAC/InterActiveCorp.-backed CollegeHumor.com, or start-ups like Black20, this site has one major thing going for it: comedian Ferrell.
The NYT suggests the current attention Hollywood is lavishing on online video represents the sequel of a failed movie. During the late 1990s, actors and studios armed themselves with money from Silicon Valley in the hopes of creating entertainment for the web. But those efforts