More BuzzFeed news that will make you say WTF

 
William Turvill
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City A.M. understands the BuzzFeed is popular among youths (Source: Getty)

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.

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