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BuzzFeed aims for IPO

By MediaHQ

buzzfeed-logoThe popular New Media website BuzzFeed has announced that it will seek an initial public offering (IPO). Last August the website was valued at $850m.

Jonah Peretti, Buzzfeed’s CEO spoke at a ReCode Conference in California, saying it was necessary for the business. “We’re very focused on building out internationally; we’re very focused on building out across multiple different platforms; we’re very focused on building out our video business.”

Buzzfeed, founded in 2006, has become one of the world’s most popular websitesdue to its content being shared, such as lists, videos, and quizzes. It focuses on viral and relatable stories, but has recently started reporting on celebrity news, and giving news coverage. It has also started video production.

Evan Spiegel, the founder of Snapchat, also announced an IPO at the same conference.

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