I’m very excited to share that NBCUniversal has agreed to invest $200M in BuzzFeed and partner with us to extend our reach to TV and film. NBCU is the home of the Today show, Jurassic World, Minions, the Olympics, Jimmy Fallon, and much more, and we are looking forward to collaborating with them on projects we’d never be able to do on our own.
We’ve also signed an agreement with Yahoo! JAPAN to launch BuzzFeed Japan as a joint venture based in Tokyo. Yahoo! JAPAN is the leading digital media company in a huge market, reaching almost all of the online population in Japan. Partnering with them allows us to grow much more quickly in Japan than if we had launched on our own. You can read more about our strategy from Greg’s blog post.
Additionally, we’ve executed a series of partnerships with the leading digital platforms, including Facebook’s Instant Articles, Snapchat’s Discover, and Apple’s forthcoming News app, with more to come. These partnerships allow us to reach a bigger audience and have a bigger impact than what would be possible on our own.
All these deals were structured to assure BuzzFeed’s continued editorial and creative independence. Equally important, the investment from NBCU and our rapidly growing revenue assures our financial independence, allowing us to grow and invest without pressure to chase short-term revenue or rush an IPO. Our independence and a long-term focus align us with our readers and viewers and help us deliver the best possible service for our audience.
This is also great news for all BuzzFeed employees. There will be many opportunities for career development and growth as we expand in new areas and take on new challenges. Your work will have a bigger impact than ever before, spreading to more countries, across more platforms, in more formats. As a result of these deals, the work you are doing will play a bigger role in the lives of an even larger, more diverse, global audience.
One final point that is very important: None of this would be possible without the amazing work that all of you have done building BuzzFeed. Your inspired work in news and entertainment, tech and product, business and sales, across the U.S. and in countries around the world, has resulted in something truly remarkable and unexpected. So thank you, and I can’t wait to be surprised and amazed by what you create next.
Now let’s go have some fun!