BuzzFeed goes after China with social licensing deal

Photo by Charley Gallay/Getty Images for BuzzFeed

BuzzFeed, one of the largest digital news and entertainment sites in the U.S., is looking to expand its international footprint through a distribution partnership with Bytedance, the Chinese tech holding company that was recently valued at over $20 billion.

Why it matters: BuzzFeed has largely penetrated the U.S. market, reaching 83% percent of all U.S. millennials per month, according to Nielsen. To grow its business and audience, it's now looking to expand its reach in international markets. China is the second-largest ad market in the world, next to the U.S.