BuzzFeed, Inc. (BZFD) to Become First Publicly Traded Digital Media Company, Begins Trading on Nasdaq Today

Rhea-AI Summary

BuzzFeed, Inc. becomes the first publicly traded purely digital media company, trading on Nasdaq under the ticker symbols BZFD and BZFDW. This follows the completion of its business combination with 890 5th Avenue Partners, and acquisition of Complex Networks. The company now features brands like BuzzFeed, HuffPost, and Tasty. CEO Jonah Peretti expressed gratitude to contributors and emphasized future growth opportunities. The first trading day included interactive content and promotions, showcasing BuzzFeed's blend of internet culture and media.

Positive

• First public listing as a purely digital media company on Nasdaq under BZFD.
• Acquisition of Complex Networks enhances brand portfolio.
• CEO expresses strong future growth potential.

Negative

• None.

Newly Acquired Complex Networks joins BuzzFeed, BuzzFeed News, HuffPost And Tasty In Slate of Iconic Media Brands

Combined Company Is Now Known As BuzzFeed, Inc. And Will Begin Trading On Nasdaq As “BZFD” Today

NEW YORK--(BUSINESS WIRE)-- BuzzFeed, Inc. (“BuzzFeed”), a premier digital media company for the most diverse, most online, and most socially engaged generation the world has ever seen, today becomes the first publicly traded purely digital media company (Nasdaq: BZFD). BuzzFeed, Inc.’s common stock and warrants will begin trading today on Nasdaq under the new ticker symbols “BZFD” and “BZFDW,” respectively. Altogether, BuzzFeed, Inc.’s iconic slate of brands now includes BuzzFeed, BuzzFeed News, newly acquired Complex Networks, HuffPost, Tasty and more.

BuzzFeed, Inc.’s listing today comes after the closing of the business combination with 890 5th Avenue Partners, Inc., a special purpose acquisition company, which was completed on Friday, December 3rd. Also Friday, BuzzFeed completed its acquisition of global youth entertainment company Complex Networks. BuzzFeed’s Investor Relations site can be found at investors.buzzfeed.com.

“Today I’m grateful to everyone who helped make BuzzFeed the destination for the best things on the internet: the video creators, the writers, the award-winning journalists, the internet visionaries -- and the most socially engaged, diverse audience the world has ever seen,” said BuzzFeed Founder and CEO Jonah Peretti. “Our next chapter as a public company will help BuzzFeed, Inc. become a hub for even more brands and creators, visionary founders and CEOs, high-quality content for the tech platforms, and so much more.”

On its first day of trading today, BuzzFeed, Inc. is bringing the best of the Internet to Wall Street--in true BuzzFeed fashion. Highlights of the day will include:

• Quiz: A classic BuzzFeed quiz titled, “Do NOT Rely On This Quiz For Investment Advice”
• Video: A brand new video “The Recipe For BuzzFeed Inc.” from Tasty, the world's largest social food network, bringing together the special ingredients -- BuzzFeed, BuzzFeed News, Complex Networks, HuffPost, and Tasty -- that make up the brand new BuzzFeed, Inc.
• Sweepstakes: BuzzFeed is celebrating with 5 days of giveaways for our audience with hundreds of prizes, scheduled to launch when the Nasdaq opening bell rings.

More to come following the Opening Bell Ceremony:

• Photo: An iconic, easter egg-filled Nasdaq Bell Ringing Photo, with nods to a collection of Internet moments, memes, and celebrities, including: The Dress; celebrity cutouts; a watermelon; @dudewithsign (holding a special listing day message); reps from BuzzFeed's world class news divisions, including a 2021 Pulitzer-Prize winner and an Editor-in-Chief; a cross-section of BuzzFeed’s iconic entertainment and food brands; and more. (High res photos to come and will be available on Getty.)
• Video: A BuzzFeed style Bell Ringing Ceremony split-screen featuring CEO Jonah Peretti live from Times Square on one side, and on the other, a feline member of the famed Savitsky Cats performing a trick at 9:30 AM ET. (Video to come)
• Photo: A BuzzFeed, Inc. Times Square Takeover (Photos to come)

Board Members

Following the closing of BuzzFeed’s business combination with 890 5th Avenue Partners Inc. and acquisition of Complex Networks, the members of BuzzFeed, Inc.’s Board of Directors are as follows:

Anjula Acharia, Director
BIO

Joan Amble, Director & Chair of the Audit Committee
BIO

Greg Coleman, Director
BIO

Patrick Kerins, Director & Chair of the Compensation Committee
BIO

Jonah Peretti, CEO & Chairman of the Board
BIO

Janet Rollé, Director & Chair of the Nominating, Corporate Governance, and Corporate Responsibility Committees
BIO

Adam Rothstein, Director
BIO

About BuzzFeed, Inc.

BuzzFeed, Inc. is home to the best of the Internet. Across food, news, pop culture and commerce, our brands drive conversation and inspire what audiences watch, read, buy, and obsess over next. Born on the Internet in 2006, BuzzFeed, Inc. is committed to making it better: providing trusted, quality, brand-safe news and entertainment to hundreds of millions of people; making content on the Internet more inclusive, empathetic, and creative; and inspiring our audience to live better lives. We'll continue to recruit the best founders and creators to join us in this mission, with more additions like Complex Networks and HuffPost to come.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding BuzzFeed, Inc.’s business strategy, plans and objectives of management for future operations, including as they relate to the anticipated effects of the business combination and the listing of BuzzFeed, Inc.’s shares on The Nasdaq Capital Market. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the proxy statement/prospectus filed by BuzzFeed with the Securities and Exchange Commission ("SEC") on November 12, 2021, as supplemented and amended, and other documents filed by BuzzFeed, Inc. from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and BuzzFeed, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. BuzzFeed, Inc. gives no assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005472/en/

Media Contacts

Carole Robinson: carole.robinson@buzzfeed.com

Juliana Clifton: juliana.clifton@buzzfeed.com

Shira Mahler: shira.mahler@buzzfeed.com

Matt Mittenthal: matt.mittenthal@buzzfeed.com

pr@buzzfeed.com



Investor Relations

Amita Tomkoria, BuzzFeed: ir@buzzfeed.com

Source: BuzzFeed, Inc.

FAQ

What is BuzzFeed's stock symbol after going public?

BuzzFeed's stock symbol is BZFD and its warrants are BZFDW.

When did BuzzFeed become a publicly traded company?

BuzzFeed became publicly traded on December 3rd.

What company did BuzzFeed acquire before going public?

BuzzFeed acquired Complex Networks prior to its public listing.

What major brands are included under BuzzFeed, Inc.?

BuzzFeed, Inc. includes BuzzFeed, BuzzFeed News, Complex Networks, HuffPost, and Tasty.

What are the financial implications of BuzzFeed's business combination?

The business combination with 890 5th Avenue Partners is expected to enhance BuzzFeed's market position and growth opportunities.