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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Paul Dacre on the Daily Mail’s future support for Brexit…

“…what moves me most are the countless messages from readers worried about whether the Mail will continue its support for EU withdrawal. My answer to them — and others — is unequivocal. Support for Brexit is in the DNA of both the Daily Mail and, more pertinently, its readers. Any move to reverse this would be editorial and commercial suicide.”

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