BuzzFeed has grown into a\u00a0digital content\u00a0behemoth since it popularized its famous listicles, and now it is venturing into new territory: partnering with companies to exclusively launch products and services across its platforms for a slice of sales.<\/p>\n
Each quarter,\u00a0BuzzFeed said it will\u00a0partner with one brand for\u00a0the launch program in exchange for a performance-based royalty, meaning companies will only pay BuzzFeed if people actually buy what they are selling.<\/p>\n
BuzzFeed’s Ben Kaufman, the head of the company’s e-commerce arm called Product Labs,\u00a0announced the new program in a series of tweets. Kaufman noted that the\u00a0best companies and products don\u2019t always get the right attention, and the selected “launch” brands will receive the best of BuzzFeed\u2019s advertising products, insights and team.<\/p>\n
“We\u2019ll look for companies that contain the attributes we look for when we make our own products. Unique, sharable, expressive of identity, etc.,” he tweeted.<\/p>\n
Kaufman clarified that BuzzFeed is not involved in the manufacturing of products or the supply chain, the program is solely for its advertising and marketing reach.<\/p>\n
The media company reports a global audience of 650 million people and nine billion content views per month through its\u00a0cross-platform network and reaches three out of five U.S. millennials monthly.<\/p>\n