BuzzFeed is soon to join hands with Yahoo Japan to launch a Japanese version of the news website and increase traction.
Founded in 2008 by Jonah Peretti, Buzzfeed is a media company that targets at younger audience in providing news and viral content in various subject areas. The analytical technology of the company picks out what is trending on the web and then connects people with the content. Following their expansion in other countries like UK, Germany, France,Brazil, Mexico, Australia and India, the company has now made an entry in Japan as well.
On a blog post Greg Coleman, president BuzzFeed wrote, “We have been really successful with the wholly owned and operated, organic-growth model we have used for launches in other countries, but in Japan we want to open with a partner who can help accelerate our growth.” He also added, “Yahoo Japan is a perfect fit because it is a pure-play digital company untethered to the legacy constraints of traditional media. We have many of the same philosophies and approaches. Yahoo Japan will advise the joint venture on cultural matters, drive traffic to BuzzFeed Japan and own the sales channel to bring BuzzFeed Japan to market.”
The partnership would be a joint venture in which BuzzFeed holds the majority of shares. The major stake in the venture is to have editorial and creative independence and Yahoo will be advisor on cultural matters, network traffic to BuzzFeed Japan. Yahoo Japan is a joint venture with Japanese-based tech firm Softbank and the US-based Yahoo Inc. Currently the company is looking for CEO for its Japan operations.
In 2015, the Silicon Valley investment group Andreessen Horowitz funded $50 million in a funding round that increased the value of the company to $850 million. Reports suggests that BuzzFeed is planning to announce a $200 million investment from NBCUniversal, a unit of Comcast, that could increase the value of the company to $2.5 billion.