IT'S OFFICIAL: BuzzFeed gets $200 million from NBC
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Previously, Re/code reported that BuzzFeed was raising $250 million from NBCUniversal at a $1.5 billion valuation.
NBCUniversal also recently invested $200 million in Vox Media at an $850 million pre-money valuation.
Last summer, BuzzFeed raised a $50 million Series E round, led by Andreessen Horowitz's Chris Dixon. The Series E capital infusion valued BuzzFeed at $850 million at the time.
Here's the release from BuzzFeed's website:
NEW YORK - August 18, 2015 - NBCUniversal and BuzzFeed today announced that NBCUniversal has agreed to make a $200M equity investment in BuzzFeed, the technology-driven global media company that reaches over 200M monthly unique visitors and 1.5B monthly video 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 Steve Burke, CEO, NBCUniversal. "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."
"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, and we're excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment," said Jonah Peretti, BuzzFeed's Founder and CEO.
As part of the investment, the companies will also explore strategic partnerships across both organizations in the coming months.
"BuzzFeed and NBCUniversal will be great strategic partners and we both have a lot to offer the other," said Kenneth Lerer, BuzzFeed's Executive Chairman. "We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands."