Digital media company BuzzFeed (BZFD) went public on Monday after a SPAC merger that valued the firm at $1.5 billion, setting it apart from peers like Vox and Vice that remain private.
- Sector(s): Communication Services
- Industry: Internet Content & Information
- Founded in 2006
- HQ in New York, New York
- https://www.buzzfeed.com
As part of the SPAC merger, the company acquired the sports and entertainment publishing company Complex for $300 million, expanding the staff to 1,400, BuzzFeed said.
The company expects to raise $16 million dollars from the SPAC deal, after investors pulled 94% of the $287.5 million raised by the SPAC.
NEW YORK - DECEMBER 06: BuzzFeed CEO Jonah Peretti stands in front of the Nasdaq market site in Times Square as the company goes public through a merger with a special-purpose acquisition company on December 06, 2021 in New York City. Shares of the digital media company, trading under the new ticker “BZFD,” rose 12.7% to $10.84 as markets opened Monday.
