You might have heard: BuzzFeed was allegedly in talks to sell to Disney for $1 billion, but signs pointed to a different cash source (Wall Street Journal)
But did you know: The new investment, which comes from the prominent venture capital firm Andreessen Horowitz, values the company at $850 million and will allow Jonah Peretti and his team to “try a bunch of features, and fast,” writes Mike Isaac. “The push into more areas might help insulate BuzzFeed, too, from an overdependence on social media,” a common criticism of the site. It will also allow experiments like BuzzFeed Distributed, which will be a team of 20 people producing content that lives entirely on other popular platforms, like Tumblr, Instagram or Snapchat. “We’re organizing ourselves to be a media company for the way people consume media today,” Peretti said.
+ “BuzzFeed has technology at its core,” writes Andreessen Horowitz’s Chris Dixon, who will join BuzzFeed’s board (Chris Dixon’s Blog)
+ “At BuzzFeed’s current valuation, each of its employees is worth three times as much as a New York Times employee,” tweets Wall Street Journal technology columnist Christopher Mims (@mims)
+ While Harper’s publisher stands firm in his defense of print and paywall (New York Times), David Carr: writes on newspaper spinoffs: “The persistent financial demands of Wall Street have trumped the informational needs of Main Street.” (New York Times)
+ Noted: Local news start-up The Ann Arbor Chronicle will shut down after 6 years of civic reporting (The Ann Arbor Chronicle); NBC News redesigns homepage again to reinstate scannable headlines and greater density (Poynter)