US-based online media company Buzzfeed is in the process of raising a $200m series E round, a source has told venture capital news source VentureBeat.
The source in question did not disclose how far the talks have advanced, or whether any new investors are set to join Buzzfeed’s existing backers, which include the corporate venturing units of media company Hearst and telecommunications firm Softbank, New Enterprise Associates, Lerer Ventures, RRE Ventures and SV Angel.
Additionally, the $200m amount is a median estimate rather than a hard target.
Founded in 2008, Buzzfeed has become famous, and infamous, for mixing light-hearted memes, lists and quizzes with serious news reportage and features. It has raised more than $46m from its investors, most recently closing a $19.3m series D round in January 2013 at a valuation of $200m.
Reports in April stated that entertainment company Walt Disney Company had expressed interest in acquiring Buzzfeed but was put off by the billion-dollar valuation attached by the target company.