’s revenue was down substantially in the first three months of 2023, dropping 27% in the period — and the company projected sales would be off as much as 29% for Q2. Given the decline, last month BuzzFeed announced it wasacross the organization, about 15% of its employee base.
“We have reached an inflection point in digital media. Over the last few months, we have made significant strategic and organizational changes to position the business for long-term growth. Peretti continued, “By leaning into Creators and AI, I believe we can unlock new opportunities across our portfolio of trusted brands — including Tasty, First we Feast, Complex, HuffPost and BuzzFeed,” Jonah Peretti, BuzzFeed founder and CEO, said in announcing the Q1 results.
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