The decline and fall of traditional media empires is one side of the ongoing turmoil within the industry, but the other side is the rise of disruptive new players, and two of the most prominent names in that category are BuzzFeed and Tumblr. The former has just closed a new round of financing that gives it an impressive war-chest with which to expand, and Tumblr also has a substantial cash hoard it has raised from its venture capital backers, as well as some traffic and user numbers that put it in the top tier of global content networks. While there are some obvious differences between the two, both clearly have their sights set on owning the social-sharing side of the content business — and that means not just traditional content but socially-driven advertising as well.

As my paidContent colleague Laura Owen has reported, Buzzfeed just raised a fourth round…