Buzzfeed and Vox Media: $1 billion businesses
Old media is buying its way into new media, again, with NBCUniversal throwing cash at Buzzfeed and Vox Media:
BuzzFeed, meanwhile, is expected to be worth $1.5 billion after its NBCU investment, which multiple sources say is also $200 million — not the $250 million we had previously reported.
Some interesting figures when compared with the leaked costs from earlier.
And as for Vox:
The media giant is investing $200 million in Vox Media, at a pre-money valuation of $850 million, according to several sources. Which is another way of saying Vox Media is now worth more than $1 billion, after raising around $300 million altogether.
Remind me again how there’s no money in digital?
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