BuzzFeed goes public: stock priced, trading on Nasdaq today as the ‘new media’ king eschews IPO for SPAC
One of the buzziest new media companies on the planet is BuzzFeed. It’s also one of the oldest, founded in 2006. It quickly became a hit with younger people due to its listicles and other viral posts, before moving into more serious journalism, for which the outfit has won a Pulitzer. As of today, the company hits another milestone: it goes public. Here’s what you need to know:
The better news? BuzzFeed founder Peretti told the FT the company made “half a billion dollars in revenue this year.” The company also ended the rocky 2020 year with $4 million in net income, compared to a net loss of $29 million a year earlier.