I didn't realize they were still around.
From Reuters via MSN:
BuzzFeed flags going concern risk, shares down
BuzzFeed on Thursday flagged going concern doubts and said it will not provide a forecast for 2026 as it evaluates strategic options, sending the digital media company's shares down 7.3% after the bell.
BuzzFeed has been grappling with a cash crunch as digital advertisers increasingly favor social media platforms such as TikTok and Meta Platforms' Instagram.
Founded by Jonah Peretti and John Johnson in 2006, BuzzFeed built its audience through listicles before expanding into a newsroom to challenge stalwarts like the New York Times.
It went public via a blank-check merger in 2021 with an enterprise value of $1.5 billion. The stock has lost 98% of its value since then.
"The current market value of the company does not reflect the strength of our individual brands," CEO Peretti said on a post-earnings call. "In other words, we believe the sum of the parts is worth more than the whole."
BuzzFeed, with a market capitalization of $28.3 million, said it may lack sufficient cash to meet its financial obligations over the next 12 months. It ended 2025 with cash and cash equivalents of $8.5 million.
Though BuzzFeed was one of the defining brands of the social-media-driven digital publishing era, its "situation could be a sign that being well-known and getting a lot of clicks isn't enough anymore," said Emarketer analyst Grace Harmon.....
....MUCH MORE
We have so many posts on this one that it is hard to choose what the outro should be.
For example:
"Best Actual Court Filing This Week: Libel Case Against BuzzFeed Edition"
From the
ALEKSEJ GUBAREV, XBT HOLDINGS S.A., and WEBZILLA, INC. Plaintiffs,
v.
BUZZFEED, INC. and BEN SMITH Defendants.
Case No. 0:17-cv-60426-UU
In a somewhat remarkable Motion to Dismiss, Plaintiffs Buzzfeed, Inc. (“Buzzfeed”) and Ben Smith (“Mr. Smith”) intimate that their ties to Florida are so sparse that, collectively, they can barely find Florida on a map and that, as a result, the present case should be dismissed for lack of jurisdiction or transferred to the Southern District of New York....
HT:
That’s the title of a response (to a motion to dismiss on jurisdictional grounds) filed by plaintiffs’ lawyers — Evan Fray-Witzer, Valentin Gurvits, Matthew Shayefar and Brady Cobb — in Gubarev v. Buzzfeed, a libel case against Buzzfeed, brought based on the Trump dossier. Nice (and, yes, I confirmed it in the court docket; the document is real). Here’s the kitten, Exhibit 41 (is that its real name?):
From the court record.
Thanks to Jonathan Falk for the pointer.
Maybe: Buzzfeed Story Generator?
And: 15 Cliches In Buzzfeed President's Departure Memo*
Or:Media: BuzzFeed's Drooping Market Cap (BZFD)
What they need is another Steele Dossier, that got people clicking.
Or more money from cornerstone investors NBC Universal and Andreessen Horowitz.
*****
Well, they can always go back to listicles.
