Earlier this week, Ze Frank—the leader of BuzzFeed’s burgeoning video empire, BuzzFeed Motion Pictures—issued a public memo to his employees explaining the terms of their employment. The crux of the memo—the necessity of which was sparked by Frank firing two women for appearing in videos produced by other companies—comes when he states what BuzzFeed Motion Pictures employees owe to their employer:

Over the past few months, a wave of unionization has swept across new media. On Friday, the media union movement got its first official enemy. Now writers get to find out who is a friend, and who is just a friendly-looking man with his hand in your pocket.

On Tuesday, Gawker reported that BuzzFeed had quietly removed from its site nearly 5,000 posts in April, a discovery the viral news conglomerate’s editor-in-chief refused to address before publication. Now BuzzFeed CEO Jonah Peretti is explaining—or trying to explain—why his site disappeared those articles.

Buzzfeed CEO Jonah Peretti just unveiled the prize for meeting the company's traffic goal: every employee was gifted with a drawing of a cat by his friend, "post-conceptual" artist Cory Arcangel. The previous traffic prize was an iPad mini.

Last night, during the Mad Men season premiere, New York magazine published the definitive account of internet animal-photography-distribution platform Buzzfeed. Here are some of the coolest things we learned about Jonah Peretti's awesome advertorial platform:

Advertising is like a shit and sugar pie. So, so sweet, as long as you don't think about what's going into it. And everyone wants a bigger piece. Who are any of us to say that someone should not have more shit and sugar pie? They might regret it, but we've been sucking it down for years.

A web guru, viral media expert, and occasional social activist, Peretti is a partner in Arianna Huffington and Ken Lerer's HuffingtonPost.com and the founder of viral content aggregate BuzzFeed.com. He's also known for his online prankery: With his comedian sister Chelsea Peretti, he created viral sites like BlackPeopleLoveUs.com and the New York City Rejection Line.