BZFD - Internet Media Buzzfeed Vice Face Further Downsizing Amid Financial Woes | Benzinga
BuzzFeed Inc (NASDAQ:BZFD) and Vice Media are reportedly set to undergo further downsizing as they grapple with financial challenges these digital media companies faced that soared to high valuations nearly a decade ago.
BuzzFeed, which has seen its stock plummet by over 97% since going public in 2021, is reportedly exploring the sale of its popular food-focused sites, Tasty and First We Feast.
Buzzfeed, once valued at $1.7 billion, has experienced a steep decline in its stock value, prompting the company to divest its news operation and seek buyers for subsidiaries like Complex Networks.