It’s been a bad few years for Buzzfeed. After a disastrous IPO in 2022, it’s faced a tanking stock price, declining revenue, and a shutdown of its news division.
But things only look to get worse in 2024. As Adweek’s Mark Stenberg reports, BuzzFeed faces a fiscal cliff where it’s in danger of being delisted from the NASDAQ stock exchange, which then would trigger a required payment on its debt. Such an event would be disastrous for the company’s future.
I recently interviewed Mark about the dangers of the fiscal cliff and how likely it is to happen. We also discussed all the mistakes BuzzFeed made that led it up to this position.
