BuzzFeed has been forced to cut it’s projected revenue by about half, after the online publisher missed its financial targets in 2015. According to a report in the Financial Times, the company has been forced to cut its 2016 revenue target from $500m to $250m after missing its 2015 target by more than $80m. The […]
BuzzFeed has been forced to cut it’s projected revenue by about half, after the online publisher missed its financial targets in 2015.
According to a report in the Financial Times, the company has been forced to cut its 2016 revenue target from $500m to $250m after missing its 2015 target by more than $80m.
The company reportedly projected revenues of $250m in 2015 but generated less than $170m.
A spokeswoman for BuzzFeed did not immediately return a request for comment. “We are very comfortable with where the digital content world is going and think we are well-positioned,” a representative told the Financial Times in an unattributed statement. The company did not provide other figures.
BuzzFeed was valued at $1.5bn last year following a $200m investment by NBCUniversal following a 2011 decision to branch out into high quality reporting and video content.
