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United States : BuzzFeed announces acquisition worth £30 million from Andreessen Horowitz

August 12, 2014

BuzzFeed, Digital content machine announced that it has taken over 30 million of funding from Andreessen Horowitz, a tech venture capital firm and the funding Chris Dixon, a general partner at Andreessen Horowitz also stated that he would be teaming up with Buzzfeed's board.

As per the report, the funding would "be used to make several major changes, including introducing new content sections, creating an in-house incubator for new technology and potential acquisitions."

In his statement Dixon explains Buzzfeed's popularity; "everything is built for mobile devices from the outset. Internet native formats like lists, tweets, pins, animated GIFs, etc. are treated as equals to older formats like photos, videos, and long form essays."

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Source: TendersInfo (India)

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