View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 3, 2013

BuzzFeed raises $19.3m in funding

Says revenue more than tripled in 2012

By CBR Staff Writer

Social media website BuzzFeed said it has raised $19.3m in a new round of funding from investors to help its global expansion.

It was led by investment firm New Enterprise Associates (NEA), and previous investors RRE, Hearst, SoftBank and Lerer Ventures.

Buddy Media co-founders Michael and Kass Lazerow joined the round as new investors.

BuzzFeed said the fund will be used for mobile development, geographical expansion, growing its editorial team and investing in video and other initiatives which will be revealed later this year.

BuzzFeed founder and CEO Jonah Peretti said: "We have the senior management, board, and investors we need to build the next great media company: socially native, tech enabled, with massive scale. We are all focused on that big goal and raised this capital to move even faster."

According to Google Analytics, BuzzFeed passed 40 million monthly visitors in December last year.

The company said that its revenue grew more than threefold in 2012, driven mainly by content and social advertising. It increased its headcount to 180 employees.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Buzzfeed was founded in 2006 by Jonah Peretti, the co-founder of the Huffington Post.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU