Buzzfeed did not wind up pocketing very much from the SPAC process. A high percentage of eligible investors redeemed their shares, which are able to do in a SPAC before the company went public. Buzzfeed only wound up with about $16 million in cash from theSPAC process.
Buzzfeed was in a rough spot even before the ad market softened.
(00:21) Dylan Lewis discusses: - The shuttering of Buzzfeed News, the award-winning journalism part of Buzzfeed's business - What the ripple effects are for all investors (not just Buzzfeed shareholders) - Why he's looking forward to hearing from Meta Platforms' management this earnings season
(10:55) Dylan talks with Bill Mann about Softbank's early investment in Alibaba and the takeaway for investors.
Companies discussed: BZFD, META, BABA
Host: Chris Hill Guests: Dylan Lewis, Bill Mann Producer: Ricky Mulvey Engineer: Dan Boyd
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