Vivek Ramaswamy has increased his stake in BuzzFeed to 8.9% amid an activist campaign against the media company. Ramaswamy recently met with BuzzFeed CEO Jonah Peretti to discuss his proposals, including adding Clay Travis, Patrick Bet-David, and Chris Balfe to the BuzzFeed board. BuzzFeed is currently struggling to sell its profitable subsidiary First We Feast, which has approximately $30 million in annual revenue, due to interested parties balking at the $70 million asking price. BuzzFeed, once valued at over $1 billion, now has a market capitalization of just $78 million. BuzzFeed shares rose 5.2% pre-market following the news.
Impressed with @VivekGRamaswamy’s ideas on BuzzFeed. We need more of a marketplace of ideas in media. Appreciate him putting forward @patrickbetdavid @cbalfe & me as board nominees. PBD and Chris are both super successful media guys and great dudes too: https://t.co/7DCVR7Jmma
"BuzzFeed, once valued at more than $1 billion by private investors, now has a market capitalization of just $78 million." https://t.co/K9TDdMCBbE
SCOOP: Vivek Ramaswamy and BuzzFeed CEO Jonah Peretti recently met for more than an hour, to discuss the former presidential candidate's activist campaign against the media company. https://t.co/3BdPTx1ADh
Filing: Vivek Ramaswamy's BuzzFeed stake grew to 8.9%; sources: Ramaswamy recently met Jonah Peretti and wants Patrick Bet-David and two others on BF board (@danprimack / Axios) https://t.co/0SwHVChw6x https://t.co/hs8oq8szk5
Scoop: Vivek Ramaswamy meets with BuzzFeed CEO amid activist campaign from @danprimack https://t.co/uYARXPbXXe
$BZFD | Vivek Ramaswamy recently met with BuzzFeed CEO Jonah Peretti to discuss his activist campaign against the media company. Following the meeting, Ramaswamy increased his stake in BuzzFeed to 8.9%. During the meeting, Ramaswamy proposed adding Clay Travis, Patrick…
Scoop: @VivekGRamaswamy last week met w/ BuzzFeed CEO @peretti, and today increased his BuzzFeed stake to 8.9%. Also, Ramswamy wants @ClayTravis, @patrickbetdavid, and @cbalfe on the BuzzFeed board. https://t.co/MjDoxNiIct
Sources: BuzzFeed is struggling to sell Hot Ones owner First We Feast, which is profitable and has ~$30M revenue per year; interested parties balk at $70M price (@lucas_shaw / Bloomberg) https://t.co/xlqm2igWaE https://t.co/xVZwAhXyMi
$BZFD (+5.2% pre) Vivek Ramaswamy raises stake in BuzzFeed to 8.9% - SA https://t.co/Y3hYRQq9tV