Viral Content Tracker BuzzFeed Raises $8 Million
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BuzzFeed, the self-proclaimed tracker of the “web’s obsessions,” has raised $8 million in its second round of funding. The site’s home page features a feed of popular photos, videos and lists recommended by visitors as well as its own editors; members can also contribute their own content in hopes it will go “viral.” (Going “viral” on the web right now, by the way: Time.com’s list of graduation gifts for “nerds,” a very sad-looking dancing dog on College Humor, etc.) Advertisers can launch their own viral content on BuzzFeed and pay to promote it.
BuzzFeed says it now has 3 million monthly unique users in the U.S., up from one million two years ago when it last raised cash. The company also has a widget that distributes its content to third-party sites. All in all, it says its network reaches 75 million unique users a month.
SEE ALSO: Trend Site Buzzfeed Raises $3.5 Million First Round
The four-year-old site counts Jonah Peretti, a co-founder of the HuffPost, among its founders. It had previously raised $3.5 million in a first round led by Hearst Interactive Media and Softbank. The latest round was led by RRE Ventures; Hearst and Softbank, among others, also participated.
Posted In: Money, M&A & Venture Capital, Venture Capital, Social Media, Community, buzzfeed, hearst interactive media, rre ventures, softbank
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