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JibJab Acquired By Catapult Capital

Los Angeles-based JibJab, which provides animated, personalized greeting cards and other social content, has been acquired by private equity investor Catapult Capital LLC, Catapult Capital announced this morning. Financial terms of the deal were not announced. JibJab's stable of electronic greeting cards allow users to send personalized videos for such things as birthdays, holidays, and other events. As part of the deal, Catapult Capital said that JibJab COO Paul Hanges has been promoted to CEO, and will lead the company under its new ownership. JibJab has previously raised funding from such investors as Overbrook Entertainment, Sony Pictures Entertainment, and Polaris Venture Partners, although those investments were nearly 9 years ago. JibJab was founded by Evan and Gregg Spiridellis in 1999, and originally launched into the market as a producer of satirical, political videos. Since then, the company transitioned into a business focused on electronic greeting cards. The companies said that financing for the deal was provided by Los Angeles-based St. Cloud Capital, with Catapult being advised by Reed Smith LLP in the deal.