BuzzFeed becomes digital media test case as industry waits to find out investor interest

  • 📰 CNBC
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

BuzzFeed will be the first significant digital media company to go public in what may or may not become a wave of SPACs

as its five comparable peers -- an e-commerce platform, a native advertising platform, a gaming company, an internet holding company and a legacy media journalism company, respectively. Those companies aren't just dissimilar -- they're all quite different from BuzzFeed itself.was valued at $1.7 billion in 2016.

"There was definitely a hype period for digital media when a lot of companies were growing really quickly but didn't have strong, sustainable businesses," said Peretti, implying Buzzfeed may not have deserved that rich of a valuation in 2016. "We've spent the past year managing our costs, building a really strong, sustainable, diversified business."

Trading publicly will put Peretti's thesis to the test. It's possible Buzzfeed's lack of growth has been more about a volatile advertising-based industry dominated by Facebook and Google -- one which may not subside in the years to come. BuzzFeed's share performance will likely determine if its smaller peers, such as Vox and Bustle, can succeed as public companies of their own. It will also give BuzzFeed currency to acquire other, smaller sites that can bolster BuzzFeed's commerce and advertising businesses."I think there's a lot of excitement to join up with us," Peretti said. "We are well capitalized, and we have scale.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

sherman4949 Woke BS

sherman4949 wow

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BlockFilm Gets Greenlight to Finance Films Via TokenFinderBlockFilm, a Canada-based financing platform, is bringing private investors and content creators together via a safe financing online platform using digital security tokens, the company announced t…
Source: Variety - 🏆 108. / 63 Read more »