Social news website Buzzfeed is to launch a dedicated feature film arm after receiving $50m in investment from venture capitalist firm Andreessen Horowitz.
Film division BuzzFeed Motion Pictures will produce content ranging from six-second videos to episodic series and feature films.
Ze Frank will lead the division as president of BuzzFeed Motion Picture, while Pulp Fiction and Django Unchained exec Michael Shamberg and comedian Jordan Peele will act as advisors.
The company, which generates more than 200 million monthly views, will look to work with Hollywood studios and distribute the content on BuzzFeed, YouTube and other platforms.
The $50m investment will also go towards creating new content sections, added staff and international growth.
Buzzfeed founder and CEO Jonah Peretti said: “Today we think the time is perfect to grow our company, build our brand and greatly increase the content we are producing so we can be the number one digital media brand.
“The investment from Andreesen Horowitz will allow us to double down on our company’s mission by creating a new organization and expand rapidly in all areas.”
“The future of content companies is crystal clear: mobile, video, social and tech,” added Kenneth Lerer, BuzzFeed’s executive chairman.
“Expanding BuzzFeed’s business across each of these areas is the key to the future. With distribution fully built out, content is the future and this expansion will allow us to create more and more content across the social web.”
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