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REPORT: DISNEY KICKED BUZZFEED’S TIRES

April 29, 2014 by · Leave a Comment 

The Walt Disney Co. had BuzzFeed on its list of possible websites to acquire earlier this year but struck it off the list when BuzzFeed said that it wanted about $1 billion, Fortune magazine reported on Monday. Negotiations, according to the magazine, are no longer active. In January of last year, BuzzFeed secured $19.3 million in venture capital funding on a valuation of $200 million. That’s a long way away from $1 billion, but analysts say it has the potential to get there. It is now averaging 85 million unique monthly visitors. The website is currently forecasting revenue of $120 million annually, twice what it earned in 2013.