70 Million Reasons BuzzFeed Won’t Go Public

Buzzfeed’s long trumpeted IPO looks increasingly unlikely after sources inside the company told the Wall Street Journal it could miss its revenue target by 15-20%. The site was supposed to bring in $350 million this year, paving the way for a 2018 floatation. Actual revenue is expected to be $70 million short of that target…

The news, which emerged overnight in the US, is a blow to Buzzfeed staff, many of whom joined after being spun the line that they would be in for a major pay day during the eventual IPO. It follows mounting losses of over £3.5 million for Buzzfeed UK in 2016. Meanwhile WSJ says Vice News is also set to miss its revenue target and Mashable is selling for a quarter of what it was worth just last year. Trouble ahead for new media…




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Trevor Kavanagh’s analysis of the Brexit process…

“Thanks to Mrs May and her useless Chancellor Phil Hammond, this will not come without pain. But we escape with imagination and true British grit or we will be boiled alive.

It means on this centenary Remembrance of our struggle against tyranny, we risk ceding non-military victory in Europe to the undemocratic forces of an unaccountable totalitarian regime.”

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