Tech news website Re/Code reported Thursday morning that the Comcast-owned media company is closing in on a 0 million investment in BuzzFeed that would value the publisher at $1.5 billion. BuzzFeed and Vox, which both feature youthful sensibilities and have numerous same visitors in common, can both help NBCU established a bigger digital presence. That’s why we’re intrigued about Re/code’s new report claiming that NBCUniversal, which is owned by Comcast, is about to invest hundreds of millions of dollars into two major media companies that have in the past been a few of its toughest critics. Last fall Vox Media raised money at a 0 million valuation. BuzzFeed’s early investors could also part with shares, owing to connected secondary sales.
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NBCU and BuzzFeed reps declined to comment.
NBCUniversal’s CEO Steve Burke is looking to tap into digital audiences to increase its offerings’ appeal to millennials, who are apparently not fond of NBCU’s TV networks. The idea is that NBCU can get a crash course on digital content and distribution from its new investments – and that those companies may want to distribute some of NBCU’s content as well.
BuzzFeed drew around $100 million in revenue in 2014, and Re/Code cites sources, saying that the company is aiming to more than double it in order to hit $250 million mark.
Jonah Peretti of BuzzFeed speaks at TechCrunch Disrupt New York on April 29, 2013.
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The company is also in discussions to invest in Vox Media, though the amount has not been disclosed.
