BuzzFeed Raised $20mm Series D. Jan 2013: Worth $200 million.
Adam Rifkin stashed this in BuzzFeed!
The rich get richer... According to Business Insider:
Cute animals plus news site BuzzFeed just raised a whopping $19.3 million for its fourth – "series D" – round of funding.
NEA led the deal. Previous investors RRE, Hearst, SoftBank, and Lerer Ventures participated.
Buddy Media cofounders Michael and Kass Lazerow, rolling in it after the sale of that company to Salesforce.com, also invested.
$20 million is a big fund-raise for this kind of media company.
It's an especially large amount considering that Buzzfeed raised $15 million just last year, and millions before that.
It is going to be a challenge for these investors to get a huge return on their investment.
The Huffington Post, which many say had an inflated inflated exit when it was taken out by AOL, only sold for ~$350 million.
In a release, BuzzFeed says it has 40 million unique visitors each month.
Unclear what kind of exit BuzzFeed can have.
Two more stats in addition to its 40 million monthly actives:
1. One third of all BuzzFeed traffic right now is on mobile devices. Smart phones ftw!
2. BuzzFeed currently employs 70 editors and a total of 180 people.
BuzzFeed's 2012 revenue is expected to be $20 million, which is triple what it did a year ago:
BuzzFeed's sponsored content is actually more effective on mobile devices than it is on desktops. Its app has big share buttons that make it easy to spread articles to Facebook or Twitter. "It is the most effective way to advertise on mobile," we were told.
BuzzFeed is now worth $200 million, and could one day be worth $1 billion:
Bleacher Report, a sports site written by sports fans, was purchased by Turner earlier this year for $200 million. It raised more money than The Huffington Post, $40.5 million, but less than BuzzFeed. It had about 25 million uniques at the time of the sale, 135 employees, and 6,000 contributors. Its revenue was reportedly in the $30-40 million range.