BuzzFeed, the social news and entertainment website known for producing advertising-sponsored “listicles” that go viral, received the amount of $50 million from venture Capital firm Andreessen Horowitz.
Chris Dixon, a general partner at the venture capital firm, said in a blog post that he would be joining BuzzFeed’s board. His arrival comes three months after Jon Steinberg said he would step down as president and chief operating officer.
Founded in 2006, BuzzFeed is among the top 10 most-visited news and information sites in the United States, joining the ranks of long-established media outlets such as CNN and the New York Times.
“BuzzFeed now reaches over 150 million people per month, is consistently profitable, and will generate triple digit millions in revenues this year,” Dixon said.
A person familiar with the company told Reuters in February that BuzzFeed expects revenue to double to $120 million this year.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, BuzzFeed, Andreessen Horowitz, Chris Dixon, Jon Steinberg, United States, CNN, New York Times.