Buzzfeed, the viral content site which gets 75% of its traffic from social media, got an additional $50 million to play with and it plans to play big. CEO Jonah Peretti is planning to roll out new content sections and pump up its video division, Buzzfeed Motion Pictures to do full length productions. All this while worrying about the company losing its "entrepreneurial spirit"?
Already, most of BuzzFeed’s revenue is derived from BuzzFeed Creative, the company’s 75-person unit dedicated to creating for brands custom video and list-style advertising content that looks similar to its own editorial content. Mr. Peretti declined to share financial details, but he said BuzzFeed’s revenue for the first half of 2014 was twice as much as the first half of 2013. According to Mr. Dixon of Andreessen Horowitz, BuzzFeed is expected to generate revenue in the triple-digit millions of dollars by the end of 2014.
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