advertisement
advertisement

NBCUniversal Invests $200m In BuzzFeed

NBCUniversal Invests $200m In BuzzFeed
[Photo: Andrew Harrer/Bloomberg via Getty Images]

NBCUniversal has made a $200 million equity investment in BuzzFeed, the companies announced on Tuesday. “We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands,” said BuzzFeed executive chairman Kenneth Lerer in a statement.

The deal increases BuzzFeed‘s valuation to $1.5 billion, Re/code reports. BuzzFeed draws about 200 million visitors to its website per month, and its videos receive about 1.5 billion monthly views.

BuzzFeed has built an exceptional global company that harmonizes technology, data, and superior editorial abilities to create and share content in innovative ways,” said NBCUniversal CEO Steve Burke in a statement. “They reach a massive, loyal audience and have proven to be among the most creative, popular, and influential new media players.”

Earlier this month, NBCUniversal invested $200 million in another Internet media company, Vox.

advertisement
advertisement