NBCUniversal announces additional $200 million investment on Buzzfeed

NBCUniversal announces additional $200 million investment on Buzzfeed

NBCUniversal has announced another major investment in social news and media platform BuzzFeed. Last year, NBCUniversal placed a big bet on BuzzFeed. The current investment of $200 million in BuzzFeed has been made at valuation of $1.7 billion for the website.

Earlier, NBCUniversal picked up stake in BuzzFeed at post deal valuation of $1.5 billion. Surely, NBCUniversal is trying its best to improve its stake in online ventures. Last year, BuzzFeed also invested $200 in Vox Media, the company that operates many popular news and technology websites.

BuzzFeed hasn’t yet commented on the deal and NBCUniversal has also declined to comment on the report published by Recode (operated by Vox Media).

BuzzFeed has invested money in developing video content and the company recently announced that it will improve its video offering in near future. The fast growing digital media space is attracting larger investments as people are consuming more content online compared to growth in TV watching hours.

BuzzFeed controlled NBC’s Snapchat channel during Rio Olympics.


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