Viral video powerhouse BuzzFeed, in which NBCUniversal has invested $400 million, is planning to go public next year, reports Axios.com.
BuzzFeed is perhaps best known for its buzzy videos and quizzes that pop up on Facebook and immediately suck you in to spending 20 minutes of your work day to learn which “Friend” you are. However, it’s also expanded into domestic and international news (which now-President Trump famously didn’t allow into many of his press conferences after the organization in 2014 ran an unintentionally prophetic profile headlined: “36 Hours on the Fake Campaign Trail with Donald Trump”); it launched BuzzFeed Motion Pictures in Los Angeles, which produces digital video content; and its cooking vertical, Tasty, has completely changed the way the world sees cooking videos.
According to Axios, BuzzFeed is one of the Big Four of modern digital companies, with its peers being Vox, Vice and Group Nine Media, which owns online publishers Thrillist, NowThis, The Dodo and Seeker. NBC also has invested in Vox, while Disney owns 18 percent of Vice. Discovery last year dropped $100 million on Group Nine.
RELATED: Discovery Invests $100 Million in Group Nine Media
Snap Inc., parent company of Snapchat, launched its IPO on March 1, the largest technology IPO in three years. Early going has been rocky, although on Monday, eight large investor banks, including Morgan Stanley and Goldman Sachs, blessed the upstart social company with positive ratings.
READ MORE: Axios, TechCrunch