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News: General

NBCUniversal Reportedly To Give Another $200M To BuzzFeed

Thursday, October 20, 2016   (0 Comments)
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From The Wrap:

NBCUniversal is finalizing a deal to invest an additional $200 million in BuzzFeed, one year after splashing the same sum of cash on the massively popular digital publisher, according a report published Thursday on Recode.

Citing sources close to the deal, Recode said that the latest round of investment values BuzzFeed at $1.7 billion. The post-money valuation in NBCU’s last go-round with BuzzFeed was $1.5 billion, indicating roughly the same value for the company, once the additional $200 million was factored in.

BuzzFeed fell short of its 2015 revenue goals, but the company shot down a Financial Times report that it cut its 2016 projections in half.

- Read the full article at TheWrap.com

 


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