marlon wayans*Comedian and actor Marlon Wayans, along with Funny or Die founder Randy Adams and producer Peter Coleman as COO, has developed a new site called WhattheFunny.com which they hope will become the “ ‘In Living Color’ of the Web.’”

WhattheFunny.com will be the urban version of Funny or Die, a site fronted by Will Ferrell and Adam McKay, and a “playground for my family and for all comedians who have something funny they want to do,” Marlon says.

“If Funny or Die is the Saturday Night Live of the web, what we’re trying to do is the In Living Color of the web,” adds Adams.

Marlon posed the idea to his family, whose claim to fame stems from the 1990s Fox variety series “In Living Color,” about coming back to together for the new venture. Although the idea “excited” them, according to Marlon, no one has committed to it just yet, according to the Hollywood Reporter.

Wayans wants to offer other comedians a platform to be seen and heard with WhattheFunny.com while also giving them a place to work that’s fun.

Adams gave up his spot as board of directors at Funny or Die to go full speed ahead with WhattheFunny.com, which is his new focus.

As of right now, the new business is being financed out of Adams pocket but he knows he could easily raise money for it at any point if needed. “I’ve probably raised $250 million over the last 20 years in eight start ups that returned value of more than $4 billion to investors,” says Adams, “so with that track record its not a problem raising it. But we want to find [investors] who will bring not just money but also people, organization and connections. We want people who have a passion for the space.”

They plan to launch the site somewhere between late 2013 and early 2014. The content will be shot as a series of shorts ranging from 5 to 10 in length which will air a specific dates and times each week. The hope is that they can take it to cable and other mediums in the future.

According to Colmen he production value will be better than most online sites, but not that much better. “Sometimes if it looks too slick it doesn’t do as well,” says Coleman. “It’s not going to be a huge Hollywood production.”

The estimated price tag on the content they will generate at about $1,000 for each minute of screen time.

The site will only go live after the producers have a stockpile of content to run. Coleman says they wish to have at least 10 or 12 series finished first.

Read more at the Hollywood Reporter.