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560,000 reasons why BuzzFeed won in 2015

BuzzFeed UK is pouring serious cash in to its video operations with new London studios
BuzzFeed UK is pouring serious cash in to its video operations with new London studios (Source: Getty)

The UK arm of US media company BuzzFeed quadrupled its profits last year, making around £560,000, alongside some huge investments.

Accounts filed at Companies House show BuzzFeed grew its profits from £140,772 in 2014 to £558,408 last year. The filings don’t show revenue as firms bringing in less than £6.5m are not required to disclose takings.

Read more: Fast Company's most innovative companies 2016 – OMG! Buzzfeed tops list

BuzzFeed has invested heavily in its British operation however, with the UK arm’s assets, climbing to £7.99m last year — more than four times higher than in 2014.

Earlier this week BuzzFeed announced it is doubling the size of its London office so it can house two new studios with a focus on sponsored video.

Buzzfeed announced plans for more work on advertising with brands when it received a $200m (£163m) cash injection from NBCUniversal last year, an investment that valued the digital media behemoth at $1bn.

The media group was earlier this year named the most innovative company in the world, beating the likes of Facebook, Uber and Netflix to the top spot.

Read more: Why Buzzfeed is a real innovator

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