Less than a week after investing $200 million in digital media company Vox, NBCUniversal has coughed up another $200 million for an equity stake in digital powerhouse BuzzFeed.
"BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways," said Steve Burke, CEO of NBCUniversal in a statement. "They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players."
The 9-year-old technology-driven media company reaches more than 200 million monthly unique visitors and 1.5 billion monthly video views. As it plans to do with its Vox investment, NBC will look for ways "to partner and work together," Burke 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," said BuzzFeed founder and CEO Jonah Peretti, who was also part of the launch team of Huffington Post.
"We're excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment," Peretti added.
The companies will waste no time getting started with plans to seek out strategic partnerships in the coming months.