By Kate Tummarello - 08/11/14 10:18 AM EDT
After a recent $50 million investment, BuzzFeed unveiled plans Monday for a “major expansion," including the creation of BuzzFeed Motion Pictures for its online video content.
The viral content company also announced it would be expanding its editorial, international, social media and branded content teams, and launching an incubator.
"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," BuzzFeed CEO Jonah Peretti said in a statement.
"The investment from Andreessen Horowitz will allow us to double down on our company’s mission by creating a new organization and expand rapidly in all areas."
BuzzFeed Motion Pictures will expand on the company’s current video efforts “to focus on all moving images from a GIF to feature film,” it said in a release.
The division will include the current short-form video offerings, a team to “create mid-form serialized content, focused on building characters and genres” and a team that will “explore the future of long-form, television and trans-media video,” BuzzFeed said.
The company plans to expand further “by incubating and acquiring new companies,” it said.
Chris Dixon — who led the investment for Andreessen Horowitz and is joining BuzzFeed’s Board of Directors — praised the company.
“We think of BuzzFeed as more of a technology company,” Dixon told The New York Times. “They embrace Internet culture. Everything is first optimized for mobile and social channels.”