As previously reported, NBCUniversal has tendered yet another $200 million investment in viral media publisher BuzzFeed, the companies announced today. The latest funding round reportedly values BuzzFeed at $1.7 billion. (Back in August 2015, NBCUniversal invested $200 million in both BuzzFeed and Vox).
According to a release, NBCUniversal intends to further its ad sales partnership with BuzzFeed as part of the deal, and collaborate on content production and distribution. BuzzFeed, for its part, will allocate funds to further develop its data and tech capabilities, flesh out its journalist arsenal, grow its Tasty food network, and create new ad products.
The partnership already manifest itself last August during the 2016 Rio Olympics, when coverage aired on a BuzzFeed Snapchat Discover channel. Tasty content is also frequently featured on NBC’s Today show.
“Over the past year, BuzzFeed has proven to be a valuable partner across our business. From the Olympics to the record-breaking launch of Secret Life Of Pets, BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms,” Maggie Suniewick, president of NBCUniversal digital enterprises, said in a statement.
“The investment allows us to remain a fully independent company but have access to and resources from the strongest and best media company there is,” added BuzzFeed CEO Jonah Peretti.