News aggregator BuzzFeed nets $3.5 million in funding
BuzzFeed, a New York City-based news aggregator, announced $3.5 million in Series A financing from Softbank and Hearst. Started by Huffington Post co-founder Jonah Peretti, the site launched in 2006 and is now receiving one million unique visitors a month.
What separates the company from other news aggregators such as Digg or Reddit is that top stories aren’t chosen by community voting, but instead by tracking what gets actual clicks. Aided by a proprietary algorithm and human… Continue Reading