By Chris Mohney, 4:22 PM on Mon Aug 7 2006, 930 views (Edit, to draft, un-top, Slurp)

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Screw that Web 2.0 crap, it's time for Blog Bubble 19.0. According to the New York Post, the Huffington Post has scored a $5 million investment package from a group led by endearingly named venture capital firm SoftBank. Also in the mix is tech-media VC daddy Alan Patricof, shown at right while chillin' in the Hamptons in 2002 (no idea about that creepy guy behind him, but let's just say the least objectionable other person we cropped out was Inside the Actors' Studio lizard James Lipton). Patricof is on something of a blogspending spree, since his Greycroft Partners also threw money at PaidContent back in June. In addition to our standard IncestWatch note that Patricof was a founder and chairman at New York magazine, it's worth noting that Patricof is himself a HuffPo contributor of relatively recent vintage. Way to monetize the bloggers, Arianna. Now you just need to latch on to some of that sweet Bono money.

Buck$ for Blog: SoftBank Puts $5M in Huff Post [NYP]
[Photo: Getty Images]