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Dublin: 2 °C Sunday 23 November, 2014

Buzzfeed’s internet empire expansion continues with $19.3m funding

The latest round of financing takes the total raised by Buzzfeed to $46.3 million.

There's a lot more to Buzzfeed than cats, but there is a lot of them too.
There's a lot more to Buzzfeed than cats, but there is a lot of them too.
Image: Cat that got the cream Photo via Shutterstock

THE SOCIAL PUBLISHING empire that Jonah Peretti heads from his New York office has big plans.

Already boasting more than 40 million monthly users, Buzzfeed is looking to expand further after securing $19.3 million in a fresh round of financing.

The Series D financing, led by NEA, saw previous investors RRE, Hearst, SoftBank and Lerer Ventures participate, as well as new input from Michael and Kass Lazerow.

Peretti said the capital was raised so the company could “move even faster” towards its goal of building “the next great media company”, one he described as “socially native, tech-enabled, with massive scale”.

Buzzfeed noted in a statement today that its December achievement of passing 40 million unique monthly visitors was driven by Facebook, Twitter, Pinterest and mobile traffic.

The company also grew revenue more than threefold in 2012, exclusively from content-driven, social advertising. It employs 180 people.

According to TechCrunch, the latest round of funding takes the total raised by Buzzfeed to $46.3 million.

Visit Buzzfeed.com (warning: you may miss your evening appointment)>

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