BuzzFeed to Go Public in 2018
Popular website BuzzFeed plans to go public next year, according to multiple media reports.
NBCUniversal has been investing in the digital news and entertainment site — soon, it sounds like you can too. The Comcast company gave $200 million to BuzzFeed last summer, and another $200 million in the fall. At the time, that valued the consumer-friendly website at $1.7 billion.
By the way, NBCU is the same company that threw quite a bit of money at Snap Inc., which recently had its own initial public offering. Steve Burke’s firm invested $500 million in the Snapchat parent’s IPO — that turned out to be a pretty good buy.
Snap’s IPO was priced at $17 per share, which translated to a whopping $24 billion valuation. The stock price began trading on the open market around $24, reaching as high as $27.09 by Day 2. SNAP has since come back down to earth a bit, and is currently available for about $22 per share. Burke said his company planned on holding it’s Snap Inc. shares for a while.
The planned BuzzFeed IPO was first reported by Axios. BuzzFeed did not immediately respond to TheWrap’s request for comment.
The global company currently has more than 18 offices and 1,300 employees.
Source: The Wrap