News startup BuzzFeed raises millions in new round

Thu Jan 3, 2013 9:35pm IST

BuzzFeed Editor-in-Chief and moderator Ben Smith is seen in Los Angeles, California September 24, 2012. REUTERS/Gus Ruelas/Files

BuzzFeed Editor-in-Chief and moderator Ben Smith is seen in Los Angeles, California September 24, 2012.

Credit: Reuters/Gus Ruelas/Files

Related Topics

Stocks

   

REUTERS - News website BuzzFeed, one of the more interesting news business models to emerge in recent years, has raised $19.3 million in new capital, the company said on Thursday.

The round was led by venture capital firm NEA along with previous investors RRE, Hearst, SoftBank and Lerer Ventures. The founders of Buddy Media, Michael and Kass Lazerow, also participated.

The money will be used for mobile and video development, editorial hires and international expansion, the company said in a release.

BuzzFeed has skyrocketed in popularity and has caught the eye of media watchers for its innovative mix of news and advertising, including a mix of high- and low-brow content, photos driven by social media and sponsored stories.

The company said it has 40 million unique visitors a month. Editor-in-Chief Ben Smith runs an editorial team of 70.

BuzzFeed was started by Jonah Peretti, the co-founder of the Huffington Post, in 2006. It has raised $46 million in total. (Reporting By Jennifer Saba in New York; Editing by Nick Zieminski)

FILED UNDER:
  • Most Popular
  • Most Shared

GOOGLE

Tech Showcase

Apple Settlement

Apple Settlement

Apple $450 mln e-book settlement gets final court approval.  Full Article 

Samsung Complain

Samsung Complain

Samsung files ITC complaint to block Nvidia chips from U.S. - Bloomberg.  Full Article 

Jeep SUVs

Jeep SUVs

Chrysler says it will speed up recall repairs for Jeep SUVs.  Full Article 

Internet Rules

Internet Rules

Any new U.S. Internet rules must withstand lawsuits - FCC chief.  Full Article 

Amazon's Plan

Amazon's Plan

Amazon plans ad-supported video streaming service - NY post.  Full Article 

Cellphone Upgrade

Cellphone Upgrade

Mobile phones to get handy upgrade.  Video 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage