Social news and entertainment company BuzzFeed has raised $50 million in Series E financing from Andreessen Horowitz. It plans on using the funds for a major expansion plan to build its brand, scale its business opportunities, and grow traffic and revenue on its Web and mobile applications. One of the expansionary moves is the BuzzFeed editorial team will divide into BuzzFeed News, Buzz, and Life, expanding offerings and rendering content differences more clearly. BuzzFeed is best known for its numbered lists and quizzes shared through social media sites like Facebook and Twitter. The new financing was raised at an estimated valuation of $850 million and brings the to-date total in equity raised by the company to about $96 million.