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With fresh $60m investment, BuzzFeed eyes expanded coverage

Published on Aug 12, 2014 12:03 AM
 
The social news group BuzzFeed is looking to expand its coverage areas with a fresh infusion of US$50 million (S$62 million) in venture capital. -- PHOTO: SCREENGRAB FROM BUZZFEED.COM

WASHINGTON (AFP) - The social news group BuzzFeed is looking to expand its coverage areas with a fresh infusion of US$50 million (S$62 million) in venture capital.

Andreessen Horowitz, the big Silicon Valley venture group, announced late Sunday it is investing US$50 million in BuzzFeed and that one of its partners, Chris Dixon, will be joining the company's board.

Details of the investment were not disclosed. But the New York Times reported that the deal values BuzzFeed at some US$850 million.

Dixon said on his blog that BuzzFeed is growing into a more serious news organisation following its debut focusing on offbeat and oddball coverage.

 
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