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…


Media News List



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Scruton reflects on Twitter’s vigilantes…

“We in Britain are entering a dangerous social condition in which the direct expression of opinions that conflict – or merely seem to conflict – with a narrow set of orthodoxies is instantly punished by a band of self-appointed vigilantes. We are being cowed into abject conformity around a dubious set of official doctrines and told to adopt a world view that we cannot examine for fear of being publicly humiliated by the censors. This world view might lead to a new and liberated social order; or it might lead to the social and spiritual destruction of our country. How shall we know, if we are too afraid to discuss it?”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
‘Release the Tapes’ ‘Release the Tapes’
Cabinet Minister on Brexit: “F*ck Knows. I’m Past Caring” Cabinet Minister on Brexit: “F*ck Knows. I’m Past Caring”
“Institute for Public Interest News” is a Bad Idea “Institute for Public Interest News” is a Bad Idea
Humphrys Interviews Naked Remainer Humphrys Interviews Naked Remainer