The youth-focused media group’s alarming fall from grace has seen its value fall 80 per cent since listing on the Nasdaq in December.
BuzzFeed and the sharemarket always looked like strange bedfellows after the youth-focused digital media group moved to go public near the top of the tech and meme stock bubble last December.
Along the way, BuzzFeed told investors its net loss nearly quadrupled to $US44.6 million for the first quarter of 2022, with time spent on its platforms declining by 4 per cent, versus the prior corresponding quarter.
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