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1.
To send multiple text messages, from different people, that contain the message "lololololol"...etc. at the same time.
Dude, we totally Lolbombed James and his phone crashed!
by JWDevine October 17, 2008
 
2.
lolbomb - verb

An explosion of laughter. Like the "f-bomb" but with a ligher/less hostile meaning.
I said a funny joke and everyone just dropped the lolbomb
by Gene07 July 19, 2006