Buzzfeed Is Already Putting The $200 Million From NBC-Universal to Use With Huge West Coast Expansion Plans

BUZZFEED CEO JONAH PERETTI

With a war chest replenished with $200 million courtesy of the kind folks at NBC-Universal, Buzzfeed is planning a massive west coast expansion that will see the digital media company leasing the former 250,000-square-foot Ford auto factory in downtown Los Angeles.

The 250,000-square-foot potential lease suggests large West Coast ambitions for the company, which is hot off a $200 million investment from NBCUniversal that valued it at around $1.5 billion. BuzzFeed is considering multiple options in addition to the former Ford factory, according to a person familiar with the negotiations. Under the deal being discussed, BuzzFeed would lease the entire five-story building, which is being redeveloped as an office building by Shorenstein Properties. The building, which once was used for assembling Model Ts and later was used as a toy factory, is roughly as large as BuzzFeed’s Manhattan headquarters. That amount of space typically holds 1,500 to 2,500 employees when laid out as standard office space.

more: [post_ad]