WASHINGTON (dpa-AFX) - Internet media company BuzzFeed is preparing to go public in 2018, media site Axios reported Wednesday, citing industry sources.
New York-based BuzzFeed was founded in 2006 by Jonah Peretti and John Johnson III as a viral lab, focusing exclusively on tracking viral content. Kenneth Lerer, co-founder and chairman of the Huffington Post, started as an investor in BuzzFeed and is now its executive chairman as well.
BuzzFeed has grown into a global media and technology company providing coverage on a variety of topics, including politics, do it yourself or DIY projects, animals and business. It also has an entertainment division, including a studio in Los Angeles.
According to BuzzFeed, the company is best known for exploding watermelons, The Dress, Tasty, award-winning news investigations, quizzes, and lists.
BuzzFeed co-founder and CEO Peretti has turned down past offers from media companies, according to Axios.
In August 2015, Comcast's TV and movie unit NBCUniversal made an equity investment of $200 million in BuzzFeed. NBCUniversal has made an additional $200 million investment in BuzzFeed in November 2016.
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