Jan 3 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
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
The money will be used for mobile and video development,
editorial hires and international expansion, the company said in
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.