NBCUniversal just invested $200 million in Vox
NBCUniversal invested in the media startup at an $850 million pre-money valuation, Re/code says.
In addition, Re/code reported that NBCUniversal also poured money - $200 million, specifically - into BuzzFeed at a $1.5 billion valuation. BuzzFeed is on track to do $250 million in revenue this year.
Re/code previously reported that NBCUniversal was trying to invest in both BuzzFeed and Vox to "tap into Millennial audiences," cordcutters who may not be paying attention to NBC's TV content anymore.
Last month, The Wall Street Journal reported that NBCUniversal was in preliminary talks with BuzzFeed, among other media properties including Vice Media and Business Insider, to take equity in these companies or acquire them.
"NBCUniversal is the perfect strategic partner for Vox Media as we continue to rapidly grow our audience and business," Vox Media CEO and Chairman Jim Bankoff said in a press release confirming the investment. "NBCUniversal's valuable family of properties align especially well with Vox Media's authoritative, voice-driven brands which span sports, tech, news, fashion, food, and more. We are extraordinarily excited to collaborate in many areas including video programming, brand advertising, cross-promotion, and platform technology to grow existing properties and launch new franchises."
Read Re/code's full report here.