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…