Buzzfeed valued at $850m after investment
Published 11/08/2014 | 07:49
BUZZFEED, the viral content site, has been valued at $850m after it confirmed a $50m investment with Silicon Valley venture capital firm Andreessen Horowitz.
The site draws 150m average monthly viewers while its numbered lists drive much of its traffic.
"As we grow, how can we maintain a culture that can still be entrepreneurial?" said Jonah Peretti, the company's co-founder and chief executive. "What if a Hollywood studio or a news organization was run like a start-up?"
Following the investment, the site will introduce new content sections and spend more on BuzzFedd Motion Pictures, its video arm based in LA.