Comcast’s NBCUniversal Invest $US200 million in BuzzFeed

Comcast’s NBCUniversal Invest $US200 million in BuzzFeed

Earlier this year, the chief executive of Comcast Corp.'s NBCUniversal, Steve Burke, said that the media company requires to be on the spot light were the eyes will follow it by introducing added "digital" to its basic fabric.

NBCUniversal agreed to invest $US200 million in BuzzFeed and that's the biggest recent cash injection into the digital news quarter.

According to some of the media reports, the deal values the leader in 'social news' at approximately $US1.5 billion. However, on Tuesday, any of the companies did not release any comment regarding the terms of the new investment.

Founder and chief executive of BuzzFeed, Jonah Peretti said, "It's a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences." The two companies will explore scope of strategic partnerships all across the organizations in the near future as per a part of the investment.

Founded in 2006, BuzzFeed is a company that has gained popularity rapidly and has been increasing readers with viral listicles and in February also landed an interview with President Barack Obama.