BuzzFeed

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It is official - Buzzfeed is back, and in a big way, as Allen Family Digital, an affiliate of Byron Allen’s family office, will acquire a majority stake in the company for $120 million.

Byron Allen

Check out the Buzzfeed profile in the Media Marketplace to learn more about their products and solutions that help advertisers.

BuzzFeed has had a lot of wins and heartbreaks since it first captured consumers’ attention in 2026, here is a brief history of some of the company's bigger moves:

  • 2006 — Founded on November 1 in New York City by Jonah Peretti and John S. Johnson III as a viral content lab,
  • 2008 — Raised $3.5 million in Series A funding from Hearst Ventures and SoftBank Capital. MatrixBCG
  • 2011 — Hired Ben Smith as editor-in-chief, steering the company toward original journalism; launched BuzzFeed News in 2012 alongside BuzzFeed Motion Pictures, which eventually hit 1 billion monthly views.
  • 2016 — Achieved profitability for the first time; acquired Tasty, which became a major food content brand.
  • 2017 — Laid off 100 employees. 2019 — Laid off 200 more (15% of workforce) despite revenue growing 15% from 2017 to 2018.
  • 2018 — Facebook's algorithm changes sharply reduced social referral traffic, forcing a difficult shift toward owned channels and video platforms — the beginning of a sustained revenue crisis.
  • 2023 (January) — Jonah Peretti announced a "hard pivot" to AI-generated content, with AI to "replace the majority of static content" on the site.
  • 2023 (April) — Shut down its Pulitzer Prize-winning BuzzFeed News division entirely after investors pushed hard for the closure.
  • 2024 (February) — Sold Complex Networks to NTWRK (a livestream shopping platform) for $108.6 million; also announced another round of layoffs (16% of workforce).
  • 2024 (July) — Sold travel brand Bring Me! to media publisher LOST iN.
  • 2024 (December) — Sold First We Feast (producer of Hot Ones) for $82.5 million to a consortium of investors. 


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About the author 

Dave Forde

Dave “The Connector” Forde is a 20-year veteran of the Canadian marketing, PR, and tech industries. He is the founder of The Connected One network, including industry news sites Canadian Ad Insider and PR In Canada, and serves as a strategic business advisor. Connect with him on LinkedIn and X.


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