The far-left and failing BuzzFeed News, who were responsible for publishing the unverified and discredited Trump dossier in 2016, who have been losing money year on year as the public continues to reject the woke agenda, have finally put been out of their misery.
A memo from BuzzFeed chief Jonah Peretti announced the closure of the once formidable outlet Thursday.
Additionally, I made the decision to overinvest[**] in BuzzFeed News[***] because I love their work and mission so much. This made me slow to accept that the big platforms wouldn’t provide the distribution or financial support required to support premium, free journalism[****] for social media.
Just as we reduced our footprint in NYC last year, we will be reducing our real estate in Los Angeles from four buildings to one[.]
As part of today’s changes, both our CRO Edgar Hernandez and COO Christian Bressler have made the decision to exit the company.
Buzzfeed News, which once had as many as 250 employees, has undergone staff reductions in recent years and is currently down to 50 employees.
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To give you an idea of BuzzFeed’s ongoing failure, the left-wing company’s stock is currently at 75 cents. That’s down from $9.61 in December of 2021.
MSN report: Buzzfeed was founded in 2006 and its news division launched in 2012. It was one of the first successful online-only news sites, following a model established by Huffington Post.
But Buzzfeed’s content was edgier and aimed at a younger demographic of digital natives who embraced the company’s stories about culture and its “listicles” and puzzles.
Before long, the company built itself into a global media company providing coverage of politics, business and investigations. It hired prominent journalist Ben Smith from Politico about a decade ago. He was instrumental in building the site’s news credentials. Smith is now with Semafor, which he cofounded.
Buzzfeed found itself in hot water in the aftermath of the 2016 election, when the infamous dossier on Donald Trump was circulating among political reporters in Washington, who were unable to verify much of its content. Buzzfeed uploaded and published the full dossier, which journalism experts at the time denounced.
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