Buzzfeed Plans 2018 IPO
You Won’t Believe What Happens Next
News outlet, quiz-maker, and listicle site Buzzfeed is planning a 2018 IPO.
No, don’t let the clickbait fool you. The purveyor of cat quizzes is actually a multifaceted media company. It’s replete with foreign correspondents and a massive BuzzFeed Motion Pictures studio in L.A.
It’s political reporting was so stand-out CNN hired away the site’s top reporters last year. The company has 1,300 employees around the world. And its Tasty division is a popular site for recipes and cooking tips.
Indeed, Buzzfeed is a go-to for many Millennial readers and web surfers. It draws more than 200 million visits each month, ranking in the top 50 sites for traffic in the United States and the top 150 globally. It’s posts are frequently shared and often go viral.
You may remember The Dress that captivated the Internet last year.
NBC Universal has already invested $200 million in Buzzfeed, just as Disney has fed money into Vice and Disney has taken up with Group Nine Media.
NBC Universal has also invested in Snap Inc. (NYSE: SNAP), the parent company of Snapchat. Snap sold $3.4 billion worth of stock. Based on Buzzfeed's last funding round it’s worth half that – about $1.7 billion.
Still, the stock is slightly underwater since its March debut.
Jason Simpkins is a seven-year veteran of the financial publishing industry, where he's served as a reporter, analyst, investment strategist and prognosticator. He's written more than 1,000 articles pertaining to personal finance and macroeconomics. Simpkins also served as the chief investment analyst for a trading service that focused exclusively on high-flying energy stocks. For more on Jason, check out his editor's page.
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