Broadcaster NBCUniversal confirmed yesterday that it has agreed a $200m strategic investment in US-based online media company Buzzfeed.
The size of the stake acquired by NBCUniversal through the deal was not disclosed, but Re/code reported last week that it was set to invest $200m in Buzzfeed at a $1.5bn valuation.
Founded in 2008, Buzzfeed runs an online media site that focuses on viral content, incorporating listicles, quizzes and original reporting. It claims to receive over 200 million monthly unique visitors and 1.5 billion monthly video views.
NBCUniversal and Buzzfeed are set to investigate strategic partnerships in conjunction with the investment over the next few months.
Steve Burke, chief executive of NBCUniversal, said: “BuzzFeed has built an exceptional global company that harmonises 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.”
The funding follows a $200m investment by NBCUniversal in another online media company, Vox Media, last week.
Buzzfeed has now raised almost $300m altogether, $50m of which was provided by venture capital firm Andreessen Horowitz in August 2014.
SoftBank Capital, the corporate venturing arm of telecommunications company SoftBank, media group Hearst, New Enterprise Associates, RRE Ventures and Lerer Ventures previously invested $19.3m in 2013 at a $200m valuation.
SoftBank and Hearst had already contributed to a $15.5m series C round in 2012, two years after Buzzfeed raised $8m in a Hearst-backed series B round.