NBCUniversal invested $200 million last week in Vox Media, owner of tech-focused websites The Verge and Re/code.
BuzzFeed and Vox have built audiences among younger Internet-focused consumers who are less likely to watch traditional TV.
NBCUniversal owns the NBC network and channels including CNBC, Bravo, E! and SyFy.
BuzzFeed, best known for online list-based articles and quizzes, has also expanded into news, video and film.
Re/code said on Tuesday that the investment would value BuzzFeed at about $1.5 billion.
BuzzFeed declined to comment on the company's valuation.
NBCUniversal and BuzzFeed said they would consider "strategic partnerships" in the coming months.
"We look forward to collaborating on television content, movies, the Olympics and joint partnerships with ad agencies and brands," BuzzFeed Executive Chairman Kenneth Lerer said in a statement.
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