Bengaluru: New York based an internet news media company Buzzfeed raises a massive amount of $200 million from NBC Universal. The funding round was also backed by the investors, includes Andreessen Horowitz, New Enterprise Associates, Hearst Media and RRE Ventures. The funding will be utilized to expand its wings into TV & movies and explore its strategic partnerships with NBCUniversal in the coming months.
As per the research, the New-York based company had raised $3.5 million in Series A from Hearst Ventures and $8 million in Series B led by RRE Ventures. It also raised $15.5 million in Series C and $19.3 million in Series D led by New Enterprise Associates. The company had also raised its Series E round of $50 million in 2014 from the investor Andreessen Horowitz along with other partners.
The renowned technology-driven global media company, BuzzFeed was established by news pioneers – Jonah Peretti and John Johnson in 2006 with an aim to circulate the most intriguing breaking news and videos. Expanding its reach, the firm provides coverage on a variety of topics including politics, DIY, animals and business and claims to reach a global audience of over 200 million monthly along with 1.5 billion monthly video viewers, today.
As part of the investment, Kenneth Lerer, Executive Chairman, BuzzFeed says, “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”.
Speaking about the company, Steve Burke, CEO, NBCUniversal says, “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”.
Jonah Peretti, Founder & CEO, BuzzFeed says, “It’s a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences. We’re excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment”.