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BuzzFeed raises USD15.5m for news reporting
Viral news aggregator BuzzFeed has raised USD15.5m in Series C financing to move into a more traditional reporting platform. Following the recent addition of editor Ben Smith, co-founder Jonah Peretti says: "The biggest shift for us is refocusing under Ben as an organisation that does real reporting and original content." Buzzfeed has mainly concentrated on memes and web-culture lists, such as 'The 30 Most Important Cats of 2011'. Peretti says the new funding will allow the company to compete "against major media organisations".
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