Webby Awards to honor Bloomberg, Louis C.K., Instagram

Excerpt: "More than any other generation that has walked the Earth, you are free to pursue your dreams unbounded by limits placed on your race, gender, ethnicity, orientation, or lineage. I have no doubt that in your lifetime, liberty's light will allow us to see more clearly the truth of our nation's founding principles, and allow us to see all people, and all couples, as full and equal members of the American family."Photo: New York Mayor Michael Bloomberg speaks at UNC-Chapel Hill's commencement in Chapel Hill, N.C. on May 13, 2012.
Takaaki Iwabu,AP Photo/The News & Observer
New York Mayor Michael Bloomberg speaks at UNC-Chapel Hill's commencement in Chapel Hill, N.C. on Sunday, May 13, 2012. Bloomberg told graduates that last week's gay marriage vote shows there is still a lot of work to be done for civil rights in this country.
AP Photo/The News & Observer, Takaaki Iwabu

(CBS News) The 16th annual Webby Awards will take place Monday night in New York City.

Some of the notable honorees include New York City mayor Michael Bloomberg, who will receive the Webby Award for Lifetime Achievement for his work with the Bloomberg media corporation. Actress Juliette Lewis and comedian Graydon Sheppard will receive a special achievement award for the viral web video "Sh*t Girls Say." Comedian Louis C.K. will be honored with a Webby Person of the Year award.

Hot mobile photo-sharing app Instagram, which was recently purchased for $1 billion by Facebook, will be awarded Webby Breakout of the Year. The awards show is also taking votes for Meme of the Year - a nod to viral websites, photos or videos. The popular Tumblr blog "Texts from Hillary" and viral video Nyan Cat have been nominated.

The ceremony, which takes place at the Hammerstein Ballroom, will be hosted by comedian Patton Oswald. Check back for a full list of winners after the ceremony.

The Webby Awards starts at 5:30 p.m. ET and will be stream live in high-definition at WebbyAwards.com.