BuzzFeed Receives $50 Million Investment

Transcript

STEVE INSKEEP, HOST:

NPR's Business News begins with some buzz in the financial world. This is a story about BuzzFeed, the website that became famous for listicles; you know, those articles made of a list? 15 pictures of cats at work, 10 kinds of listicles that I can't stand. But it has also featured a lot of interesting and original news reporting and it has just received a $50 million investment from a venture capital firm. The company is expected to use that money to add a number of new content sections, and expand news coverage, and make plans to double their foreign reporting and put more resources toward BuzzFeed Motion Pictures, a video production unit based in LA. This deal comes a few months after talks failed with Disney, which was interested in purchasing BuzzFeed. Transcript provided by NPR, Copyright NPR.