$1.240
+0.145 (+11.71%)收盤時
BZFD 資訊
BZFD 事件
BuzzFeed Q2 Revenue Down 21.8%
Reports Q2 revenue $36.3M, down 21.8% sequentially. "BuzzFeed, Tasty, and HuffPost are strong, recognizable brands that have loyal users, but we made it clear on our last earnings call that these businesses were carrying an unsustainable cost structure, and a restructure was immediately needed," said Byron Allen, BuzzFeed Chairman and CEO. "As such, we recently took steps to significantly reduce costs to better align our cost base with the underlying business, giving us the foundation to grow. I'm also excited to share that BuzzFeed has entered into a sales representation agreement with Allen Media Group ("AMG"), engaging AMG's sales organization to expand monetization of BuzzFeed's advertising inventory and give brands and agencies another point of entry to build campaigns spanning premium television, streaming, local broadcast, and digital-first media. I'm energized by what we're building at BuzzFeed, and by the path we're now on towards sustainable profitability, positive cash flow, and disciplined investment in our highest-growth priorities."
Company Focuses on Full-Year Operational Targets
The company said, "Given the transformation underway, we are focused on full-year operational targets rather than quarterly guidance. As the restructuring and platform transition progresses, we expect to provide investors with a more complete financial outlook."
BuzzFeed Closes Transaction with Allen Family Digital, Acquires 51% Stake
BuzzFeed announced the closing of its previously announced transaction with Allen Family Digital, LLC, an affiliate of Byron Allen's Family Office, under which Allen Family Digital, LLC acquired approximately 51% of the Company's outstanding shares. Byron Allen has assumed the role of Chairman and Chief Executive Officer, and Jonah Peretti has transitioned to his newly created role as President of BuzzFeed AI. Under the terms of the agreement, Allen Family Digital acquired 40 million shares of BuzzFeed, Inc. common stock at a price of $3.00 per share, representing a total transaction value of $120 million for a total purchase price of $120 million. The transaction was funded with $20 million in cash at closing and a $100 million promissory note due five years from closing, accruing interest at 5% annually. BuzzFeed has used $12.5 million of the cash proceeds from the transaction to pay down existing indebtedness, materially strengthening the Company's balance sheet and enhancing financial flexibility to support future growth initiatives.
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