In order to concentrate on tracking viral material, Jonah Peretti and John S. Johnson III launched BuzzFeed in 2006. By using native advertising, which increases the possibility that viewers will read the advertisement’s content, BuzzFeed makes money.
Despite BuzzFeed’s foray into serious journalism, a 2014 Pew Research Center survey indicated that most respondents in the United States, regardless of age or political affiliation, saw BuzzFeed as an unreliable source. Since then, BuzzFeed News has left the main website and relocated to its own domain.
BuzzBot, an instant messaging client that the website first introduced, sent users links to trending material. Later, the website started highlighting the most well-liked connections it had discovered. To assist in describing the popular online content, Peretti employed curators.
The Entertainment Group, which also includes Motion Pictures, and News are the two official divisions of news and entertainment output that took effect in 2016. Having foreign editions in Australia, Brazil, France, Germany, India, Japan, Mexico, Spain, and the United Kingdom, BuzzFeed had journalists from 12 nations as of 2016.
BuzzFeed executed more than 100 social media campaigns in 2011, which increased income by three times compared to 2010. BuzzFeed reported in January 2013 that New Enterprise Associates had raised $19.3 million. According to reports, the business made money in 2013.
According to reports, BuzzFeed’s income surpassed $100 million in 2014. Andreessen Horowitz reportedly valued the website at about $850 million. Rather than relying on banner advertisements, BuzzFeed instead makes money from native advertising that is relevant to its editorial content.
Despite a 15% increase in income from 2017 to 2018, BuzzFeed nevertheless had to let off 200 people in order to support growth in 2019. In 2019, Facebook started financing two News Watch programmes. According to Jonah Peretti, he won’t start receiving pay until the pandemic is over. Since there were no layoffs, several employees expressed their relief at the news.
Lists, movies, and quizzes are among of the website’s most well-liked format types. The New York Times reports that while BuzzFeed initially only concentrated on such viral content, “it added more traditional content, creating a track record for delivering breaking news and extensively reported items” in the years leading up to 2014.
From December 2013 to April 2014, BuzzFeed routinely held the #1 spot in NewsWhip’s “Facebook Publisher Rankings,” until The Huffington Post overtook it.