More BuzzFeed news that will make you say WTF
US company NBCUniversal is reportedly set to increase its investment in news and entertainment website BuzzFeed.
Comcast’s TV and movie arm is finalising a deal to put around $200m (£164m) into the company, giving it a total value of $1.7bn, Recode reports.
Read more: 560,000 reasons why BuzzFeed won in 2015
In the UK, BuzzFeed this week reported results showing it had quadrupled profits in 2015, making around £560,000. This was up from £140,000 in 2014.
The UK arm’s assets, meanwhile, have climbed to £7.99m – more than four times higher than in 2014.
Read more: Agenda-setting and amusing: Why Buzzfeed is a real pioneer
Also this week, BuzzFeed announced it is doubling the size of its London office in order to house two new studios with a focus on sponsored video.
Earlier this year, it was reported that BuzzFeed had missed its revenue targets in 2015 and was forced to cut its 2016 targets from $500m to $250m.