Market Overview

BuzzFeed Lands Big Investment From Andreessen Horowitz

Related SPY
Are The Markets In A State Of Economic Cognitive Dissonance?
FOMC Recap - Rates Remain Unchanged
Dow 17K: A Story of Recovery, Perseverance (Fox Business)

BuzzFeed, the online content sharing site, received a $50 million dollar investment from one of the biggest VC firms, Andreessen Horowitz, according to a report in the New York Times.

BuzzFeed presently gets about 150 million viewers per month, with about 75 percent of the traffic coming via social media.

It seems that the outsized reliance on social media is a concern for the company, and they are looking to perhaps use the new capital infusion to build put different initiatives and expand globally. The report also said BuzzFeed will introduce new content sections, create a technology incubator arm and allocate more capital to further develop BuzzFeed Motion Pictures.

Posted-In: Andreessen Horowitz BuzzFeedNews Media

 

Related Articles (SPY)

Around the Web, We're Loving...

Get Benzinga's Newsletters