Given that many people utilize BuzzFeed I think that makes them a legit media company not a $50 million investment. Media companies are being redefined in our era and that is a great thing because it's giving a lot of people jobs that weren't there before. However, much of this content is being made for nothing which could be a problem for the creators.
Buzzfeed get a big 50 million dollar investment and many americans are asking is this a legit media company. My answer is yes because it does not takes much to be a media company but any time someone sponsors you for 50 million dollars it states a lot. I think that buzzfeed will be the nest big thing in media gossip and scandal.
Buzzfeed's inflow of cash means they are legitimate. This is because they have been recognized as having value on the market, whether it is online, or in some other format. No one invests money in a company they feel is not legitimate or has no way of being profitable. Even if everyone doesn't think they are legitimate, you just need enough people who feel it is.
I don't consider TMZ a legitimate media company and I consider Buzzfeed to be similar. I think they are a legitimate entertainment company and I enjoy reading some of their articles on my lunch break. But I don't think they are really considered a media company. They seem to be an aggregate of interesting internet information.