Buzzfeed is one model [of self-sustaining Internet content]. Others include Vice, Business Insider, Vox, Re/code, Gawker. ~Chris Dixon
Adam Rifkin stashed this in Content is king.
Chris Dixon on a16z's Buzzfeed investment: http://cdixon.org/2014/08/10/buzzfeed/
1/ When a16z invested in Buzzfeed, I mentioned that Buzzfeed was “consistently profitable” http://cdixon.org/2014/08/10/buzzfeed
2/ Recently, a USA Today column falsely claimed that BuzzFeed is unprofitable.
3/ I’d like to clarify what I meant by Buzzfeed being "profitable."
4/ Buzzfeed has more cash in bank + near-term receivables than they have ever raised from investors since the company was founded.
5/ They paid millions of dollars in taxes this year to the government based on their profits.
6/ They raised VC money to invest in expansion, not to support existing operations.
7/ Hopefully this clarifies what I meant by "profitable."
8/ I believe we need models for internet journalism that are self-sustaining and don’t depend on the good
9/ Buzzfeed is one such model. There are others such as Vice, Business Insider, Vox, Re/code, Gawker, etc.
10/ It's an exciting time. Media entrepreneurs are running lots of creative experiments and many of them are working.