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BuzzFeed is going public: here’s how to buy the stock

Digital media giant BuzzFeed Inc. is close to finalizing a deal to go public via a SPAC merger with the blank check company 890 5th Avenue Partners Inc. The Wall Street Journal reported. The decision to list itself on the stock market is part of the company’s strategy to better compete with social media giants Facebook Inc. (NASDAQ: FB), Amazon.com (NASDAQ: AMZN), and Google (NASDAQ: GOOGL).

BuzzFeed has not yet closed a deal, but CEO Jonah Peretti confirmed it is actively “taking the next step” in the company’s evolution. This includes “bringing capital and additional experience” to the business.

Where to buy Buzzfeed stock


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Peretti is a former schoolteacher who began working on BuzzFeed out of a small New York City office in the Chinatown district. Today, it is one step closer to becoming a public company. The exact timing of the initial public offering has yet to be confirmed while sources close to the matter offered a vague timeline by the end of the year.

Investors that want to buy shares of BuzzFeed should prepare themselves in advance as in theory it could start trading any day. We do know that BuzzFeed stock will trade under the ticker symbol “BZFD” so keep that in mind. In order to buy shares of BuzzFeed, you will need to open an account with a reputable stock broker.

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Should you buy Buzzfeed stock?

BuzzFeed’s deal to go public via a SPAC agreement will introduce fresh capital to acquire other digital media assets. In fact, BuzzFeed isn’t wasting any time as it already has a deal on the table to buy Complex Networks, a digital publisher that focuses on music and pop culture for $300 million.

Once the combination with Complex is complete, the combined entity would boast a valuation of $1.5 billion. Peretti commented on the Complex purchase and told WSJ:

[It] will expand our reach into new audiences, complement our entertainment, news, and lifestyle brands, and open the door to even more revenue opportunities.

How BuzzFeed turned into a profit

BuzzFeed was riding high in 2015 following NBCUniversal’s $200 million investment that valued the company at $1.5 billion. This helped the company to enhance its television, news, and film investments. However, since then, the market has changed with a shift to young audiences with streaming platforms.

In 2017 the company missed revenue targets by about $350 million and laid off around 100 staff in business and advertising sales operations. Three years later the company generated $321 million in revenue and recorded $31 million in EBITDA. According to CNBC, management’s internal projections call for revenue to rise to $654 million in 2022 while EBITDA is expected to be $117 million.

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