MitchellC
2021-06-25
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BuzzFeed Nears Deal to Go Public Via SPAC, Eyeing Digital-Media Rollup
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BuzzFeed is vying for greater scale to better compete for online ad dollars with tech giants such asAlphabetInc.’sGoogle,Amazon.com Inc. andFacebookInc.</p>\n<p>The Information earlierreported on BuzzFeed’s plansto buy rivals, including Complex Networks, as a public company.</p>\n<p>The deal to take BuzzFeed public marks a turning point for Mr. Peretti, a onetime schoolteacher who parlayed his affinity for stunts that went viral on the internet into a winding career as a digital-media entrepreneur. The 47-year-old executive helped found HuffPost alongside Arianna Huffington in 2005 and began work on BuzzFeed in a small workspace in New York’s Chinatown neighborhood in 2006.</p>\n<p>Mr. Peretti hopes the moves to acquire Complex and other companies will give the combined entity enough scale to grow despite the increasing dominance of Google and Facebook over the digital advertising industry, the people said. 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Those companies—known in the digital-media industry as the “triopoly”—increased their share of the U.S. digital-ad market from 80% in 2019 to a range approaching 90% in 2020, according to an analysis from ad agency GroupM.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BuzzFeed Nears Deal to Go Public Via SPAC, Eyeing Digital-Media Rollup</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuzzFeed Nears Deal to Go Public Via SPAC, Eyeing Digital-Media Rollup\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 10:58 GMT+8 <a href=https://www.wsj.com/articles/buzzfeed-nears-deal-to-go-public-via-spac-eyeing-digital-media-rollup-11624485898?mod=hp_lead_pos3><strong>WSJ</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BuzzFeed Inc. is close to a deal to go public through a merger with a special-purpose acquisition company, according to people familiar with the situation, part of a plan to consolidate with other ...</p>\n\n<a href=\"https://www.wsj.com/articles/buzzfeed-nears-deal-to-go-public-via-spac-eyeing-digital-media-rollup-11624485898?mod=hp_lead_pos3\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.wsj.com/articles/buzzfeed-nears-deal-to-go-public-via-spac-eyeing-digital-media-rollup-11624485898?mod=hp_lead_pos3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171757794","content_text":"BuzzFeed Inc. is close to a deal to go public through a merger with a special-purpose acquisition company, according to people familiar with the situation, part of a plan to consolidate with other players in digital media.\nBuzzFeed founder and Chief Executive Officer Jonah Peretti could announce a deal with 890 5th Avenue Partners Inc.—a blank-check company named after the headquarters of Marvel’s Avengers superheroes and founded by investor Adam Rothstein—as early as this week, the people said.\nThe merger deal would generate capital to pursue additional acquisitions, including Complex Networks, a digital publisher that specializes in streetwear, music and pop culture. BuzzFeed is vying for greater scale to better compete for online ad dollars with tech giants such asAlphabetInc.’sGoogle,Amazon.com Inc. andFacebookInc.\nThe Information earlierreported on BuzzFeed’s plansto buy rivals, including Complex Networks, as a public company.\nThe deal to take BuzzFeed public marks a turning point for Mr. Peretti, a onetime schoolteacher who parlayed his affinity for stunts that went viral on the internet into a winding career as a digital-media entrepreneur. The 47-year-old executive helped found HuffPost alongside Arianna Huffington in 2005 and began work on BuzzFeed in a small workspace in New York’s Chinatown neighborhood in 2006.\nMr. Peretti hopes the moves to acquire Complex and other companies will give the combined entity enough scale to grow despite the increasing dominance of Google and Facebook over the digital advertising industry, the people said. BuzzFeed will also look to continue its growth in other areas including e-commerce and affiliate commerce—the practice of making money by selling products and referring potential customers to websites that sell products they might be interested in.\nEven with the addition of Complex and other companies, there is no guarantee that BuzzFeed can further enlarge its share of the digital-ad sector. In recent years, most of the growth has gone to Google, Facebook and Amazon, and the Covid-19 pandemiconly accelerated that trend. Those companies—known in the digital-media industry as the “triopoly”—increased their share of the U.S. digital-ad market from 80% in 2019 to a range approaching 90% in 2020, according to an analysis from ad agency GroupM.","news_type":1},"isVote":1,"tweetType":1,"viewCount":442,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/126553748"}
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