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: 020 7193 4041
team@Order-order.com

Quote of the Day

Cameron on that shameful Guardian leader…

“There is no privilege in holding your eldest-born child in your arms as their life drains away. Death knows no privilege.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Lefties Declare War on “War” Lefties Declare War on “War”