I spoke to Dave Balter a month or so ago. I was trying to understand what BzzAgent was going to do with the rididculous amount of cash they raised. He explained that they were switching to a "media" model. I didn't understand how that affected the way they do what they do. Thanks to Ad Age for clearing that up:

For BzzAgent, which recently raised almost $14 million in venture capital, the move from a promotions firm to a media channel means that it will focus on tending its agents and turn over creative considerations to the agencies it partners with. The idea is to run more campaigns, give agents a broader range of products and creative ideas to work with, and zero in on how to measure their effectiveness. It now runs about 35 campaigns concurrently.

So, it looks like bzzagent is now self service for ad agencies. I am still not so clear why they needed 14M to do that, given that they were already highly profitable and this should reduce their costs. But, I'd imagine that the mystery will be answered in due time.