It is only eight years old and best known for collating funny videos of cats and so-called "listicles" of trivia (such as 40 Things That Will Make You Feel Old), but viral internet sensation BuzzFeed was on Monday valued at more than three times as much as the Washington Post, the venerable US newspaper whose exposure of the Watergate scandal brought down President Richard Nixon.

The website, set up by serial internet entrepreneur Jonah Peretti in New York in 2006, has secured $50m (£30m) of funding from Andreessen Horowitz, a US venture capital firm that has a strong record of picking the next big thing online, having pumped money into Facebook, Twitter, Skype, Foursquare, Pinterest and Airbnb.

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