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NBCUniversal has made an additional $200 million investment in BuzzFeed, the two companies confirmed in a Monday statement.
Recode reported the investment last month, saying it valued the digital publisher at $1.7 billion. NBCUniversal infused $200 million into BuzzFeed last year, valuing the company at $1.5 billion — indicating roughly the same valuation after factoring the new money.
BuzzFeed reorganized itself into two separate departments earlier this year: an editorial side, led by BuzzFeed Editor-in-Chief Ben Smith, and an entertainment division, overseen by Ze Frank, the president of BuzzFeed Motion Pictures.
“Over the past year, BuzzFeed has proven to be a valuable partner across our business,” Maggie Suniewick, President of NBCUniversal Digital Enterprises, said in the statement. “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. We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies.”
“NBCUniversal has been a tremendous partner this past year and we can’t wait to do more with them,” BuzzFeed Founder and CEO Jonah Peretti said in the statement. “Our collaboration has allowed us to focus on our respective strengths, learn from each other, and serve our combined audience better with compelling news, entertainment, and advertising offerings that neither company could do on our own. 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.”