NBCUniversal has agreed to make a $200 million equity investment in BuzzFeed, the technology-driven global media company that reaches over 200 million monthly unique visitors and 1.5 billion monthly video views.
“BuzzFeed has built an exceptional global company that harmonises technology, data and superior editorial abilities to create and share content in innovative ways,” said Steve Burke, CEO, NBCUniversal. “They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players. We are pleased to be making this investment and for our companies to partner and work together.”
“It’s a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences, and we’re excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment,” said Jonah Peretti, BuzzFeed’s founder and CEO.
As part of the investment, the companies will also explore strategic partnerships across both organisations in the coming months.
“BuzzFeed and NBCUniversal will be great strategic partners and we both have a lot to offer the other,” said Kenneth Lerer, BuzzFeed’s executive chairman. “We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands.”