Pretty shocking, especially considering the fact that Heavy’s traffic is somewhat underwhelming:

http://www.alexa.com/data/details/traffic_details?q=&url=http://www.heavy.com

Alexa is about as accurate as licking your finger and holding it up to tell the weather Rockwell.

you got to be kidding me. I guess there so much money out there and so few unique ideas that these guys are all hopping onto something like a heavy.
Well they said never again will there be a hype cycle / bubble around Internet startups. Here and now we are seeing the makings of it once again with the many Social networking and video download service sites and UGC based services. My guess is the guys who invest in these things are people who are gambling and also connected to the “Yahoo’s and Google’s “ of the world, thereby they create this false notion of hugely popular sites and then hope to be bought by the likes of the Yahoo’s.
This is a racket and nobody in the Public companies is acting with any fiduciary responsibility to the shareholders at all.
The notion that any of these sites are profitable is a questionable and according to some of the reports published Heavy is one of many I would guess to have fibbed and pumped up traffic numbers.
Well then again hey kudos to these guys to be able to convince and pull a fast one over the investors. After-all most of these people tend to have the “follow the herd” mentality.

Congratulations to Simon, David and the rest of the team at Heavy.  I used to be at Polaris and worked on the original $10M investment in Heavy.  From first hand experience, Simon and David are two of the more inspirational and well-deserving founders in the new medium of online content.  I also know the diligent investment process at Polaris and the commitment they have in the space and Heavy, specifically.  Congrats to Mike Hirshland and best of luck to what will surely be a successful outcome.  I have some pretty good ideas of how and where the money will be spent and look forward to hearing continued success coming from the team at Heavy.