Buzzfeed today completed its long-anticipated stock market listing. The digital media company is trading on the Nasdaq exchange under the ticker, BZFD.
The listing – made through a merger with 890 Fifth Avenue Partners, a special-purpose acquisition company (SPAC) – didn’t quite go as planned.
On Friday last week, it emerged that Buzzfeed had raised less money than expected from the deal ($16m rather than $250m after a flurry of investor withdrawals).
Today, as it entered the Nasdaq, Buzzfeed’s shares initially jumped up to 50%. But when the market closed, they were down around 11% at $8.56.
Buzzfeed co-founder and chief executive Jonah Peretti spoke to CNBC as the company listed this morning (see video below).
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