BuzzFeed Raises $8 Million From RRE Ventures, Ron Conway, Chris Dixon, Others
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
BuzzFeed is a New York-based website that has raised $8 million from RRE Ventures, Ron Conway, and Chris Dixon. BuzzFeed raised a $3.5 million Series A in 2008 from Hearst, Softbank, and Ken Lerer — who all participated in this round also. BuzzFeed founder Jonah Peretti was also one of the founding partners in The Huffington Post.
Essentially BuzzFeed tracks everything that is viral, whether it is videos or news stories. “We built a viral analytics platform that tracks how consumers interact with media in realtime and a viral advertising platform that sends more traffic to the content that is actually working. So we optimize content for viral distribution using realtime data and we make money through viral advertising on our site and network,” stated Peretti. BuzzFeed receives 3 million unique visitors per month. Currently BuzzFeed has roughly 12 employees, but they plan to scale up to 25.