BuzzFeed may raise a $200 million funding round — its fifth to date — a source close to the matter claims.
It's unclear how far along talks are, nor is it clear who will lead the round, although existing investors NEA, Lerer Ventures, RRE Ventures, Hearst Ventures, and SV Angel may participate. When reached for comment, a BuzzFeed spokesperson provided VentureBeat with the following statement: “We don’t comment on rumors and speculation.”
According to VentureBeat's source, the $200 million figure is seen as a median estimate; the round may fall above or below that line.
Buzzfeed's last funding round back in January 2013 saw the company raise nearly $20 million at a rumored valuation of $200 million. Following its last round, Buzzfeed reportedly planned to expand its mobile and video products. To date, Buzzfeed has raised $46.3 million.
BuzzFeed's list posts and experiments in long-form journalism reached an “audience of more than 130 million unique visitors in November [2013],” according to an official press release. Yet, BuzzFeed took a few blows to the chest this month: The site's Facebook traffic has reportedly tanked, and BuzzFeed's longtime chief operating officer and president Jon Steinberg left the firm for British news and entertainment site The Daily Mail.
BuzzFeed is a start-up trend-tracking Website. The company tracks and delivers the content that is grabbing the most eyeballs on the Internet. It is similar to Digg, except doesn't rely on votes to determine the popularity of a video,... read more »
