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Buzzfeed Case Study

CGMT 560 @ USC Spring 2015
by

Jessica Phan

on 29 April 2015

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Transcript of Buzzfeed Case Study

What's the Buzz on Buzzfeed
By: Jessica Phan, DSM M.S. Candidate USC
Buzzfeed, Director of Operations
Michelle Kempner
Buzzfeed, Senior Business Analyst
Mallory Wang
Table of Contents
1. What is Buzzfeed
2. History
3. Leadership
4. Structure
5. Culture
6. Formula
7. Business Model
8. Value Proposition
9. Revenue
10. Costs
11. Marketing
12. Acquisitions/ Partnerships
13. SWOT
14. Future

1
1
2
3
4
1997
2006
2012
2008
CEO
CFO
Publisher
Pres.
Ed. Chief
VP
Anyone can talk to anyone...
Director
Director
Director
Director
Director
Editor
Editor
Editor
Editor
Editor
Editor
Editor
Editor
Editor
Editor
Editor
28
1. News
2. Buzz
3. Life
4. Entertainment
5. Quizzes
6. Videos
7. Animals
8. Beauty
9. Books

10. Business
11. Big Stories
12. Celebrity
13. DIY
14. Food
15. Geeky
16. Gif Feed
17. Ideas
18. LGBT
19. Music
20. Parents
21. Politics
22. Rewind
23. Spots
24. Style

25. Tech
26. Travel
27. Weekend
28. World

Buzz
Team
1
1
2
3
4
5
6
7
One-Stop-Shop
Buzzfeed is...
- Producing
- Publishing
- Marketing
- Editing
- Sales
Where Does the Content Come From?
- Editors
- Publishers
- Community
- Residency
Program
Buzzfeed Culture
- Tech Start-up Mentality
- Work Hard Play Hard
- NO HATERS
- Everyone Contributes
Buzzfeed's Formula For Success
- Listicles
- Memes
- Cats
- Serious News + Non Serious
- Social Media
Show Me The Money
o Round 1 - 2008 =
$ 3.5 million
o Round 2 - 2010 =
$ 8 million
o Round 3 - 2012 =
$ 15.5 million
o Round 4 - 2013 =
$ 19.3 million

o Round 5 - 2015 =
$ 50 million

Valued at $850 Million
Acquisitions/ Partnerships
Weakness
Opportunities
Threats
Asian Girl Breaks Into Buzzfeed To Interview ...
5
Buzzfeed International
Buzzness Model
- Contagious Media
- Leverage Social Media
- Disruption Theory
- Sponsored Content
- Native Ads
Native Ads
$100,000- $500,000 Per Native Ad Campaign
- 200 Million Uniques / Month
- 19 Million Vid Views
- Seemless Ads
- No Pop Ups .... EVER
- CPM Rate = $5 -$10
(FYI: FB CPM Rate = $4.50)
Low Production Costs = Everything is in House
Cost for Talent = $0.00
VS
VS
Buying FB Ads
2012
2014
2012
Look Familiar?
2011
Dating Awkwardly Via FaceBook
2015
Torando Labs
2014
- 10 Million + Users
- Native Spanish, Portugese, and French Speakers who are learning English
- Sends them snippets and they translate
2013
Partner
Acquisition
Acquisition
Acquisition
Acquisition
Acquisition
- Data Engineering Unit

- Data Extraction

- Simplifies how they track
Acquisition
2015
Failed Partnerships
2014
Strengths
- Native Branding
- Viral Content
- Instantaneous Access to Info
- Participatory Journalism

- Overloaded
- Retracting Stories
- Plagiarism
Marketing
- Cross Promoting
- SEO Heavy
- $0.00
- Pays FB for eyes on ads
- Cats
- Big Data
- User API login

- Lack of Credibility
- Scanning not absorbing
- Content sucks
- Contradicting
- Competing against themselves
- The native ads fad fades
Future of Buzzfeed Motion Pictures
- More content
- More formats
- More creativity
- Less Hollywood
President
Ze Frank
Dao Nguyen
3x Audience
2 x Revenue

Scott Lamb
Competition
BREAK DOWN
Brands
Revenue Rumors
Early 2014 =
$100 Million Mark
http://www.inc.com/laura-montini/bill-gates-billion-dollar-predictions.html

http://www.slate.com/articles/technology/technology/2014/08/buzzfeed_plagiarism_deleted_posts_jonah_peretti_explains.html

http://www.slate.com/articles/technology/technology/2014/08/buzzfeed_plagiarism_deleted_posts_jonah_peretti_explains.html

http://techcrunch.com/2011/03/30/buzzfeeds-jonah-peretti-on-why-the-facebook-media-world-view-wins/

http://allthingsd.com/20130905/the-buzzfeed-numbers-jonah-peretti-wont-talk-about/

http://www.sramanamitra.com/2014/08/20/the-buzz-about-buzzfeed-some-reflections/

http://money.cnn.com/2014/08/10/media/buzzfeed-funding/
http://mediadecoder.blogs.nytimes.com/2012/01/09/buzzfeed-raises-15-5-million-in-financing/?_r=0

http://www.ibtimes.com/omg-buzzfeed-raises-another-193-million-latest-round-funding-991384

http://www.cnet.com/news/trend-tracking-site-buzzfeed-gets-3-5-million-in-funding/

http://techcrunch.com/2015/02/19/buzzfeed-acquires-gopop/#.kucoin:OUYU

http://techcrunch.com/2015/01/07/disney-eyes-more-acquisitions-with-a-focus-on-digital-distribution/

http://fortune.com/2014/04/28/disney-tried-to-buy-buzzfeed/

https://www.crunchbase.com/organization/buzzfeed

http://thenextweb.com/apps/2015/02/20/buzzfeed-acquires-gopop-gifs/

http://mediagazer.com/150219/p18#a150219p18

https://www.owler.com/iaApp/poll/52fff7b4e4b063175004ad51/GoPop/what-is-gopop-s-annual-revenue-.htm

http://techcrunch.com/2014/10/28/buzzfeed-acquires-torando-labs/

http://digiday.com/platforms/5-things-learned-snapchat-discover/

http://blogs.wsj.com/cmo/2015/02/05/cmo-today-snapchat-and-buzzfeed-cant-make-a-deal/

http://blogs.wsj.com/cmo/2014/11/25/buzzfeed-crosses-100-million-in-revenue-staff-memo-says/

http://www.privco.com/private-company/buzzfeed-inc

http://www.forbes.com/sites/benjaminboxer/2013/09/10/what-buzzfeeds-data-tells-about-the-pricing-of-native-advertisements/


http://gawker.com/top-10-best-ever-wtf-omg-reasons-buzzfeed-fired-me-lol-1471409834

http://nymag.com/news/features/buzzfeed-2013-4/index3.html

http://adage.com/article/media/private-equity-plowing-money-buzzfeed-vox/297034/

http://www.capitalnewyork.com/article/media/2014/11/8557366/buzzfeed-passes-100-m-revenue-2014

http://www.capitalnewyork.com/article/media/2014/11/8557366/buzzfeed-passes-100-m-revenue-2014

References
75% of Traffic
from Social Media
Breakdown of Traffic
50% Mobile Traffic
55%
42%
3%
Full transcript