National Lampoon continues to expand its online reach, this time by taking a minority stake in Capazoo, a hybrid social net/entertainment site. Financial terms were not disclosed. The deal calls for National Lampoon to distribute video clips from its various units to Capazoo. National Lampoon’s was motivated to tie-up with Capazoo based on its belief that it will rapidly gain traction among college-age audiences.

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Capazoo, which launched in October, differs from most social nets and user-gen sites: in addition to offering ad revenue sharing with its content-creator members, the company encourages members “virtual tipping” on the site. Members are persuaded to reward others on the site for their music, videos photos, blogging and other creative endeavors with cash points called “Zoops.” These cash points can also be earned by referring new members to the site. Another area where Capazoo parts company with most other social nets is its membership fees—a year’s privileged access to Capazoo costs $24.95; an annual VIP pass runs $34.95. Release