Will Ferrell's FunnyorDie takes HBO for up to $10 million

Comedy-video startup FunnyorDie, a project cofounded by yuksters Will Ferrell, Adam McKay and Chris Henchy with Sequoia Capital's Mark Kvamme, has sold an equity stake to HBO of less than 10 percent. (FunnyorDie was valued at $100 million after the last round of funding; the new valuation, and HBO's exact investment, wasn't disclosed — if you know, please tell us.) In exchange, HBO also gets five hours of programming from Ferrell, McKay, Henchy and recent addition Judd Apatow.

It's an interesting deal for Hollywood, where traditionally people don't get out of bed unless there's cash money on the table. With more stars, producers and writers moving into venture-backed deals like FunnyorDie's, you might see more hot names demanding that studios and networks invest in their startups as part of other deals. It may be the only way Ashton Kutcher can keep Ooma alive.