NBCUniversal announced on Tuesday that it has invested $200 million in online publisher Buzzfeed, according to Reuters.
The investment by the Comcast media subsidiary comes a week after NBCUniversal invested $200 million into Vox Media, according to USA Today. The agreement with Buzzfeed doesn't come as much of a surprise, with rumors about a Buzzfeed investment surfacing after its deal with Vox.
"We're excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment," Buzzfeed CEO Jonah Perett said in a statement, according to USA Today.
Recent investments by NBCUniversal highlight the company's efforts to reach younger consumers and grow its digital advertising, according to Bloomberg.
Buzzfeed is a rapidly growing company that was founded in 2006. Its increased popularity and widening scope offers NBCUniversal the perfect opportunity to up its ratings, which were down 13 percent in July, according to Bloomberg.
Buzzfeed is also expanding its horizons, joining with Yahoo! Inc. to introduce a Buzzfeed chapter in Japan, according to Bloomberg. In the past few months, Buzzfeed has also made deals with Facebook, Snapchat and Apple.
"Strategic partnerships" will be considered as the year continues, according to Reuters. Buzzfeed and NBCUniversal will be collaborating on television content and movies and with shared corporate clients, according to USA Today.
