BuzzFeed’s Valuation Tops Tribune’s Validates Approach
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BuzzFeed Inc. raised $50 million on a bet its mix of everything from animal lists to serious news is more valuable than the coverage produced by established media like the Washington Post and Los Angeles Times.
The investment from venture-capital firm Andreessen Horowitz propelled BuzzFeed’s valuation beyond those traditional big-name publications to about $850 million, according to the New York Times. While that’s about half the market capitalization of the Times itself, it’s in line with other Web startups at about seven times annual revenue, according to Paul Sweeney, an analyst at Bloomberg Intelligence.