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BUZZFEED GETS $50 MILLION FROM VC FIRM FOR MOVIES

August 11, 2014 by · Leave a Comment 

Add Buzzfeed to the list of online companies seeking to expand into traditional media. According to the New York Times, the website, which reportedly averages 150 million viewers per month, has closed a $50-million deal with venture capital firm Andreessen Horowitz that will allow it, among other things, to develop BuzzFeed Motion Pictures. The division reportedly plans to churn out seconds-long clips for social media, 22-minutes "traditional-length" TV shows, and full-blown motion pictures, in which, according to the New York Times, it will work with traditional Hollywood studios