Business

News aggregation site BuzzFeed will be listed through SPAC

In the morning news on March 11, Beijing time, according to reports, people familiar with the matter revealed that the US news aggregator website BuzzFeed plans to establish a special purpose acquisition company (SPAC) with a partner named 890 5th Avenue Partners Inc. (890 5th Avenue Partners Inc.). ) Merger to achieve listing. People familiar with the matter said that once it goes public, the company may use the cash on hand to carry out subsequent acquisitions.

The value of this transaction is unclear. Like other deals that have not yet been finalized, the terms of the deal may change and negotiations may eventually break down.

 

Neither BuzzFeed nor the partner at 890 Fifth Avenue declined to comment.

BuzzFeed is headquartered in New York and was founded by CEO Jonah Peretti. The company agreed in November last year to acquire the Huffington Post online news service from Verizon Telecom. As part of the transaction, Verizon will acquire a minority stake in BuzzFeed at a valuation of $1.7 billion. People familiar with the matter said that this valuation level is basically the same as when Comcast’s NBC Universal invested $200 million in BuzzFeed in 2016.

 

The name of the partner at No. 890 Fifth Avenue is derived from the fictional mobile building in the “Avengers”, and its persons in charge are executive chairman Adam Rothstein and CEO Emilio Callum Zucker (Emiliano Calemzuk). The bad-checking company raised $287.5 million through an IPO in January this year and announced that it will focus on the technology, media, and telecommunications industries.

William Douglas has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.

William holds a postgraduate degree in Software Engineering. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ William is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.

Address: 2022 Smith Road, Atlanta, Georgia

Email: William@newswelcome.com

Recent Posts

US Pfizer confirms strong long-term immune effect of corona vaccine 12-15 years old

The US Pfizer announced on the 22nd that it has confirmed a strong long-term immune…

2 weeks ago

China is working toward the release of oil reserves

A spokesman for China's State Administration of Grain and Food and Stockpiling said on the…

3 weeks ago

Amazon to stop accepting UK-issued Visa cards from next year

Amazon.com announced on the 17th that it will stop accepting credit cards for visas issued…

3 weeks ago

Yuanhao Future CFO Luo Rong joins Baidu as CFO of Baidu Group

Baidu reported that the company issued a letter to all employees, announcing that Julius has…

1 month ago

SAIC Volkswagen plunged 15% in August!

Different from the popularity of Japanese cars in the country, the Volkswagen among German cars…

3 months ago

This website uses cookies.