BuzzFeed raises another $50M to fund expansion

BuzzFeed just received another $50 million to help it become, in the words of one of the investors, "a preeminent media company."

Venture capital firm Andreessen Horowitz's investment marks the fifth round of funding for the viral content website. It eclipses the four prior rounds, which combined raised $46.3 million, according to CNNMoney.

"We're presently in the midst of a major technological shift in which, increasingly, news and entertainment are being distributed on social networks and consumed on mobile devices. We believe BuzzFeed will emerge from this period as a preeminent media company," Andreessen Horowitz partner Chris Dixon wrote in a blog post describing the investment.

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