And the winners for caption contest #1 as chosen by Adam Ostrow are…

1st place – “After his television series ended, Mr. Ed fell on hard times eventually finding work as a receptionist for a glue manufacturer.” – Trick

2nd place – “QTrax’s new interim CEO.” – James

3rd place – “VH1’s Where are they now: Seabiscuit” – ryan

Prizes were:

“Funniest caption gets a subscription to Startup Schwag and $25 dollars in gift cards to Grooveshark. Second funniest gets only the $25 in giftcards.”

While I originally mentioned that there were only two places, I found it necessary to add the third. James, the second place winner, works at Grooveshark, so I just assumed that he didn’t need the gift cards. Third place gets it instead.

IMAGE CREDIT: Bounder on Flickr.

Here’s how it works. We show you a picture, you make up a funny caption for it, then leave it in the comments.  Simple as that.

Funniest caption gets a subscription to Startup Schwag and $25 dollars in gift cards to Grooveshark.  Second funniest gets only the $25 in giftcards.  Either way you slice it, that means free stuff. Adam Ostrow from Mashable is judging. One entry per person.  Contest lasts until Friday, Feb 8th at 11:59PM, Pacific time.

Have fun.

IMAGE CREDIT: Bounder on Flickr.