BuzzFeed votes to go public amid staff walkout

CNN Business2021-12-03

New York (CNN Business)BuzzFeed, the digital media company most known for its lists, quizzes and journalism, is going public and its debut on the Nasdaq will serve as a bellwether for the rest of the ...

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Sebas997
2021-12-03
Sebas997
cool
Jchptan
2021-12-03
Jchptan
Hi
- HME:
  Hi
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  hi
Jaden994
2021-12-03
Jaden994
Pls like
- xiaojn:
  ok
- Jchptan:
  Hi
Rudyy
2021-12-03
Rudyy
Like
SkyMah
2021-12-03
SkyMah
Like pls
Wooloo123
2021-12-03
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It gained the interest of legacy media outlets including NBCUniversal, which invested $200 million in BuzzFeed at a valuation of $1.7 billion in 2016.\nBut BuzzFeed later struggled to meet the demands that came along with its high valuation as it competed with other media companies along with tech platforms such as Google (GOOG) and Facebook (FB) for advertising dollars. Facebook also implemented News Feed algorithm changes that cut audience traffic for many publishers, including BuzzFeed.\n\"There was a period of exuberance and hype around digital media, and that hype cycle allowed a lot of capital to flow into the space,\" Peretti told Recode in June. \"And then there was a period where there was a lot more skepticism, and a demand to build a real business. And now we've built a real business.\"\nIndeed, BuzzFeed and its fellow digital media companies of the 2000s have grown up — or, in some cases, blown up. Some found their exit through mergers or acquisitions with other media companies. Mashable sold to Ziff Davis. Bustle, now BDG, bought Mic. Vice Media acquired Refinery29. PopSugar joined Group Nine Media. Vox Media merged with New York Media.\nNow the executives of these media companies have their eyes on BuzzFeed's stock market debut as they consider their own SPAC deals. Vice co-founder Shane Smith told Insider last month that his company's board of directors and management team paused its previous SPAC plans but that could change.\n\"If the timing comes along and we're planning blistering 2022 and traffic and events do what we think they're going to do, then the sky's the limit,\" Smith 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