Buzzfeed receives $200m investment boost - Press Gazette

Buzzfeed receives $200m investment boost

Buzzfeed has received a $200m investment from broadcasting company NBCUniversal in exchange for a minority stake in the business.

The move comes a year after the entertainment and news website received $50m from venture capitalists Andreeson Horowitz.

Buzzfeed has been rapidly expanding its news operation in the UK in recent months recruiting senior journalists from The Guardian and Sunday Times. 

It claims to reach over 200 million website visitors a month with 1.5bn video views.

NBCUniversal chief executive Steve Burke said: "BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways.

“They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players.  We are pleased to be making this investment and for our companies to partner and work together.”

Buzzfeed executive chairman Lenneth Lerer said: “BuzzFeed and NBCUniversal will be great strategic partners and we both have a lot to offer the other. We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands."



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