Buzzfeed raises $15.5 million | Nieman Journalism Lab

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Buzzfeed raises $15.5 million

LINK: techcrunch.com ➚ | Posted by: Joshua Benton | January 9, 2012

The viral aggregator will apparently have plenty of money to back their new editorial efforts, which are already getting good reviews. Note Hearst Media is one of the funders. TechCrunch’s Alexia Tsotsis:

The company was accidentally profitable this summer before it started aggressively hiring and revenue has been growing more quickly than traffic Peretti says. Buzzfeed eschews traditional advertising in favor of socially focused ads from brands like Disney and Microsoft.

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