NBCUniver­sal dou­bles in­vest­ment in Buz­zFeed

The Myanmar Times - - International Business -

NBCUNIVER­SAL is dou­bling its in­vest­ment in Buz­zFeed, pumping an­other US$200 mil­lion into the in­ter­net me­dia com­pany.

“NBCUniver­sal made an ad­di­tional $200 mil­lion in­vest­ment to ex­pand the strate­gic part­ner­ship,” the com­pa­nies said in a joint re­lease.

The deep­ened al­liance will cen­tre heav­ily on ex­tend­ing an ad­ver­tis­ing sales re­la­tion­ship be­tween Buz­zFeed and NBCUniver­sal, which is owned by US ca­ble colos­sus Com­cast.

Com­cast in­vested an ini­tial $200 mil­lion in Buz­zFeed last year.

NBCUniver­sal and Buz­zFeed have part­nered on ini­tia­tives in­clud­ing the 2016 Rio Olympics on Snapchat and sell­ing ad­ver­tis­ing.

“Buz­zFeed has helped us en­gage mil­len­nial au­di­ences with our con­tent and ex­tend the reach of our clients’ cam­paigns to new plat­forms,” NBCUniver­sal pres­i­dent of dig­i­tal ex­pe­ri­ences Mag­gie Su­niewick said in the re­lease.

Buz­zFeed founder and chief ex­ec­u­tive Jonah Peretti main­tained the in­vest­ment would al­low the New York City based com­pany to re­main an in­de­pen­dent op­er­a­tion, but give it access to NBCUniver­sal re­sources.

The in­fu­sion of money will also build up Buz­zFeed’s food fo­cused Tasty me­dia net­work and cre­ate ad prod­ucts, the com­pa­nies said.

Founded in 2006, Buz­zFeed has built it­self into a well-known me­dia and en­ter­tain­ment com­pany. –

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