BuzzFeed Lands Big Investment From Andreessen Horowitz
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.