{"id":380447,"date":"2021-12-06T23:04:23","date_gmt":"2021-12-06T20:04:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/buzzfeed-shares-sink-in-ipo-after-investors-rock-spac-merger\/"},"modified":"2021-12-06T23:04:23","modified_gmt":"2021-12-06T20:04:23","slug":"buzzfeed-shares-sink-in-ipo-after-investors-rock-spac-merger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/buzzfeed-shares-sink-in-ipo-after-investors-rock-spac-merger\/","title":{"rendered":"#BuzzFeed shares sink in IPO after investors rock SPAC merger"},"content":{"rendered":"<p>&#8220;<strong>#BuzzFeed shares sink in IPO after investors rock SPAC merger<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Shares of BuzzFeed\u00a0plunged as much as 17 percent in their Nasdaq debut on Monday, after its merger with a blank-check company was hit by a flurry of investor withdrawals last week.<\/p>\n<p>New York-based BuzzFeed\u2019s stock opened up 14 percent at $10.95 but reversed course to trade as low as $8. By mid-afternoon, shares were down only 7 percent.<\/p>\n<p>The company was one of the 10 trending stocks on Stocktwits.com, a platform commonly seen as a measure of interest from retail investors.<\/p>\n<p>After shareholders redeemed a majority of their stake, BuzzFeed said last week it would receive only 6 percent, or nearly $16 million, of proceeds from the trust account of the blank-check company 890 Fifth Avenue Partners Inc., named after the fictional Avengers mansion.<\/p>\n<p>Special purpose acquisition companies typically sell shares at $10 apiece, put the cash in a trust account and then search for a company to buy. Its shareholders can choose to redeem their shares in return for cash.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-01.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Jonah Peretti in Times Square\" class=\"wp-image-20390577\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-01.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-01.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-01.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Jonah Peretti, seen here in Times Square, founded BuzzFeed with John Johnson in 2006.<\/figcaption><figcaption><span class=\"credit\">Getty Images for BuzzFeed Inc.<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Tightening scrutiny from the Securities and Exchange Commission and saturated demand have weighed on the SPAC market, which soared in popularity last year.<\/p>\n<p>BuzzFeed\u2019s deal is a barometer of investor interest for peers like Vox <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a>, which is reportedly considering a SPAC merger. Magnum Opus Acquisition, the SPAC merging with Forbes, has been trading below its issue price of $10.<\/p>\n<p>BuzzFeed also secured $150 million through a convertible note financing.<\/p>\n<p>The company, which produces <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, videos and online quizzes, was founded in 2006 by Jonah Peretti and John Johnson, and saw a rise in popularity among the youth.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-03.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Jonah Peretti and staff celebrate behind a Nasdaq podium\" class=\"wp-image-20390590\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-03.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-03.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-03.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>BuzzFeed has gained popularity via a youthful readership \u2014 but the Web publication is taken seriously and even snagged a Pulitzer prize in 2021.<\/figcaption><figcaption><span class=\"credit\">Getty Images for BuzzFeed Inc.<\/span><\/figcaption><\/figure>\n<p>In 2016, the company was valued at $1.7 billion after Comcast-owned\u00a0NBC Universal\u2019s investment.<\/p>\n<p>BuzzFeed, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/apnews.com\/article\/pulitzer-prizes-2021-aaf5e21a6e50e996ebe3ad15f958ecdf\">won a Pulitzer prize<\/a> in June, bought news website HuffPost last year and also acquired youth entertainment company Complex Networks in June this year.\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/12\/06\/buzzfeed-shares-sink-in-ipo-after-investors-rock-spac-merger\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#BuzzFeed shares sink in IPO after investors rock SPAC merger&#8221; Shares of BuzzFeed\u00a0plunged as much as 17 percent in their Nasdaq debut on Monday, after its merger with a blank-check company was hit by a flurry of investor withdrawals last week. New York-based BuzzFeed\u2019s stock opened up 14 percent at $10.95 but reversed course to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":380448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/buzzfeed-nasdaq-02.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74898,121048,80787,5007,72332,71359],"class_list":["post-380447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sec","tag-12-6-21","tag-buzzfeed","tag-ipo","tag-nasdaq","tag-spac"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380447","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=380447"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/380448"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=380447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=380447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=380447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}