BuzzFeed Has Big Plans

By Chris O'Shea Comment

BuzzFeed just closed a $50 million investment from venture capital firm Andreessen Horowitz, so you know what that means — big plans! This is because you can’t get that much money from an investor and reply, “Right, well, thanks for this, but we’re just going to keep doing what we’re doing.”

In an announcement, the site said it has its sights set on Hollywood. BuzzFeed Video is now BuzzFeed Motion Pictures. The video arm already produces Vines and short films, but will now seek to create full-length movies in conjunction with other major studios. Expect What Type of Sea Algae Are You?, starring Matt Damon, to premiere in 2018.

BuzzFeed will also continue to make its presence known outside of the states. There will be site launches in Berlin, Mexico City, Mumbai and Tokyo by next year.

The site will look to acquire other businesses and add to its editorial teams, which are separated into three divisions: BuzzFeed News (the news team); BuzzFeed Life (DIY content); and BuzzTeam (nonsensical quizzes and articles that appear to be written by children). 

Will BuzzFeed actually follow through on all these grand plans? Maybe, maybe not. But money talks, and $50 million is worth a lot of words.