{"id":282972,"date":"2021-06-24T20:17:32","date_gmt":"2021-06-24T17:17:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/buzzfeed-to-become-a-publicly-traded-company-through-spac\/"},"modified":"2021-06-24T20:17:32","modified_gmt":"2021-06-24T17:17:32","slug":"buzzfeed-to-become-a-publicly-traded-company-through-spac","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/buzzfeed-to-become-a-publicly-traded-company-through-spac\/","title":{"rendered":"#BuzzFeed to become a publicly traded company through SPAC"},"content":{"rendered":"

“#BuzzFeed to become a publicly traded company through SPAC<\/strong>”<\/p>\n

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BuzzFeed will become a publicly traded company with an implied value of $1.5 billion through a merger with a special purpose acquisition company.<\/p>\n

The company, founded by Jonah Peretti in 2006 and initially known for listicles and online quizzes, has established itself as a serious contender in the news<\/a> business, this year\u00a0winning a Pulitzer<\/a>\u00a0for international reporting.<\/p>\n

BuzzFeed also said Thursday that it plans to buy Complex Networks from Verizon and Hearst for $300 million, a global youth network that engages with millennials and Gen Z.<\/p>\n

A number of companies this year have chosen a non-traditional path to putting their shares on the public market, choosing to skip partnerships with traditional financial institutions, and instead merging with a special purpose acquisition company, or SPAC.<\/p>\n

SPACs can cut up to 75 percent off the time it takes for a company to get its stock trading on an exchange, versus the traditional process of an initial public offering. <\/p>\n

SPACs can also make it easier to get prospective buyers on board. Companies going the SPAC route often feel more license to highlight projections for big growth they\u2019re expecting in the future, for example. <\/p>\n

\"BuzzFeed
BuzzFeed has established itself as a serious contender in the news business since its founding in 2006.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n

In a traditional IPO, the company is limited to highlighting its past performance, which may not be a great selling point for young startups that typically fail to put up big profits or revenue.<\/p>\n

BuzzFeed, based in New York City, is merging with a SPAC called 890 Fifth Avenue Partners Inc.<\/p>\n

Aside from its namesake digital media<\/a> entertainment platform, the company\u2019s other brands include BuzzFeed News, HuffPost, BuzzFeed Entertainment and Tasty Lifestyle Brands.<\/p>\n

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\"BuzzFeed
BuzzFeed also says it plans to buy the youth-oriented Complex Networks for $300 million.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

BuzzFeed said that the parent company will be known as BuzzFeed Inc. Shares will trade under the ticker symbol \u201cBZFD.\u201d It is not yet known which exchange the stock will trade on.\n <\/p><\/div>\n

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If you want to read more News articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#BuzzFeed to become a publicly traded company through SPAC” BuzzFeed will become a publicly traded company with an implied value of $1.5 billion through a merger with a special purpose acquisition company. The company, founded by Jonah Peretti in 2006 and initially known for listicles and online quizzes, has established itself as a serious contender…<\/p>\n","protected":false},"author":1,"featured_media":282973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/buzzfeed-to-go-public2.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[110205,80787,5007],"class_list":["post-282972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-24-21","tag-buzzfeed","tag-ipo"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/282972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=282972"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/282972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/282973"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=282972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=282972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=282972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}