BuzzFeed Raises Nearly $20 Million, Plans More Hires
Social news site BuzzFeed, known for its irreverent, highly shareable curated lists such as "8 GIFS of Gwyneth Paltrow's Mom-Dancing" and "The 40 Greatest Dog GIFS of All Time," has an extra $19.3 million in its pocket.
The New York Times reports BuzzFeed secured the sum from investors including New Enterprise Associates, RRE Ventures, Hearst Interactive Media, SoftBank, Lerer Ventures and two newly announced ones: Buddy Media co-founders Michael and Kass Lazerow.
The site plans to beef up its staff and expand the brand globally and on mobile phones.
“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," said BuzzFeed CEO-founder Jonah Peretti in a statement.
Last year, Politico reporter Ben Smith jumped aboard the 7-year-old start-up as Editor-in-Chief, followed by a series of other splashy hires including -- as THR reported last fall -- former Los Angeles Times editors Richard Rushfield and Kate Aurthur to head the West Coast bureau.