Internal Documents Show BuzzFeed’s Skyrocketing Investment in Editorial

J.K. Trotter · 08/12/15 11:20AM

Late last month, Recode reported that NBCUniversal is preparing to invest $250 million in BuzzFeed, a play that would value the site at $1.5 billion. This newest round of funding (last year, it was merely $50 million from Andreessen Horowitz) raised a still unanswered question: How is BuzzFeed doing financially? According to internal documents obtained by Gawker, the answer is: Good. The company’s revenue tripled from 2012 to 2013, and reached $46 million in the first half of last year. Its investment in editorial has doubled each year. The documents also prove clearly for the first time that BuzzFeed pays millions of dollars to sites like Facebook to boost its clients’ advertising campaigns.