BuzzFeed sells Complex as its digital empire shrinks and slashes 16% of staff [CNN]
BuzzFeed, Inc. - Class A (BZFD)
Company Research
Source: CNN
The $108.6 million sale of much of Complex Networks, which BuzzFeed purchased three years ago for $300 million, came as the company announced it would lay off 16% of its staff ahead of a “planned strategic restructuring” next week to “enhance the company's profitability” and “reduce centralized costs.” BuzzFeed will retain the First We Feast food-centric brand which produces the YouTube series “Hot Ones,” and will operate it independently along with the company's other brands BuzzFeed, HuffPost and Tasty. “The sale of Complex represents an important strategic step for BuzzFeed, Inc. as we adapt our business to be more profitable, more nimble, and more innovative,” said Peretti, the chief executive of BuzzFeed. “This is also an opportunity to unlock greater value for the Complex brand by combining it with NTWRK's expansive, commerce-driven business.” The uniting of NTWRK and Complex is, indeed, something of a natural marriage. NTWRK serves as a marketplace for many of the items
Show less
Read more
Impact Snapshot
Event Time:
BZFD
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
BZFD alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
BZFD alerts
High impacting BuzzFeed, Inc. - Class A news events
Weekly update
A roundup of the hottest topics
BZFD
News
- BuzzFeed, Inc. Announces 1-For-4 Reverse Stock Split [Yahoo! Finance]Yahoo! Finance
- BuzzFeed, Inc. Announces 1-For-4 Reverse Stock SplitBusiness Wire
- BuzzFeed, Inc. to Release First Quarter 2024 Financial Results on Monday, May 13, 2024 [Yahoo! Finance]Yahoo! Finance
- BuzzFeed, Inc. to Release First Quarter 2024 Financial Results on Monday, May 13, 2024Business Wire
- My Best Current Micro-Cap Idea: BuzzFeed, Inc. [Seeking Alpha]Seeking Alpha
BZFD
Earnings
- 8/8/23 - Miss
BZFD
Sec Filings
- 5/2/24 - Form 8-K
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- BZFD's page on the SEC website