The investment was the first by IAC Programming, a division launched last year to buy sites that provide content appealing to specific online communities. Under the deal, IAC/Interactive acquired a 51 percent stake and voting control over Connected Ventures LLC, which is the parent of CollegeHumor.com.
Financial terms were not disclosed.
CollegeHumor.com attracts more than 6 million unique visitors and 200 million page views a month, according to IAC.
"With its distinct brand of humor, CollegeHumor has emerged as a viral success with an enormously loyal audience among young adults," Michael Jackson, president of IAC Programming, said in a statement.
CollegeHumor founders Josh Abramson and Ricky Van Veen would continue to oversee Connected Ventures, which is developing a film for Paramount Pictures, IAC said. The company also has released the book "The CollegeHumor Guide To College," and operates retail site BustedTees.com, which is aimed at the CollegeHumor.com demographic.
IAC/InterActiveCorp, whose chairman and chief executive is media mogul Barry Diller, owns a long list of e-commerce Web sites, including Lendingtree, Ticketmaster and Expedia.com. The company also owns the Home Shopping Network and the personals site Match.com.