BuzzFeed authorizes $200 million flat round

A Delaware filing has confirmed that BuzzFeed authorized $200 million in Series G financing. At $45.04, this is the same share price as their round last year, which valued the digital media company at $1.5 billion.

Recode reported last month that NBCUniversal was talking about making another investment and it’s possible that this is what the filing is in reference to. The filing does not necessarily mean that the round was completed.

The documents show that they are guaranteeing returns for some investors, in the event of an IPO within the next two years and three months. If the stock market price is ultimately beneath what they paid for, these late-stage investors will be protected. This risky practice, known as “ratchets,” have become more commonplace in later-stage startups in recent years.

There were reports that New York-based BuzzFeed, which creates both news and viral entertainment content, slashed its revenue goals last year. But the company denied this and has likely benefited from the 2016 election cycle.

The company has also doubled down on its video efforts, securing partnerships with Facebook and Twitter for its live streams.

Disney tried to buy BuzzFeed at one point, but it was said that the companies couldn’t agree on a price. Since then, CEO Jonah Peretti has discussed plans for an IPO.

BuzzFeed declined to comment.