It seems everyone wants to make movies these days, and even popular website BuzzFeed is getting in on the action.

The website has announced that it plans to make videos under a new business division known as BuzzFeed Motion Pictures, and it’s already moving in the right direction with a large amount of funding for the project. The site, which usually specializes in viral content and countdown lists, has managed to raise $50 million from Andreessen Horowitz, according to a report from The New York Times. The investment puts BuzzFeed’s worth at about $850 million.

Andreessen Horowitz partner Chris Dixon has joined BuzzFeed’s board as a result, and had plenty to say about the investment. “I believe the future of BuzzFeed – and the media industry more generally – will only get brighter as the number of people with Internet-connected smartphone grows, and the Internet solidifies its place as the central communication medium of our time,” he said.

The funding will not only go towards video production both large and small over at BuzzFeed Motion Pictures, but will also go towards new content sections and an in-house incubator for additional technologies, according to The New YorkTimes. “We’re presently in the midst of a major technological shift in which, increasingly, news and entertainment are being distributed on social networks and consumed on mobile devices,” said Dixon. “We believe BuzzFeed will emerge from this period as a preeminent media company.”

As far as what kind of videos will be produced, BuzzFeed is interested in both short six-second videos that are Vine-worthy, as well as feature length films. It’s currently looking into partnerships with Hollywood studios to gain additional distribution, across the likes of YouTube and other digital platforms.

This could certainly open up a new avenue for the site, if it can use its tools in the most creative manner possible.

What do you think Is Buzzfeed ready to enter the movie-making front, or do you think the website will face an uphill battle when it comes to producing noteworthy content There’s no question the funds acquired will be a big help, but now comes the next step of producing content, writing scripts, and so forth. Whatever the case, we certainly wish them luck.

Source: Hollywood Reporter