8-K
filed May 11, 2026, 5:02 PM ET
ticker BZFD
CIK 0001828972
M&A
confidence high
sentiment negative
materiality 0.95
BuzzFeed receives $120M majority investment from Byron Allen's family office; Q1 revenue $31.6M
BuzzFeed, Inc.
- Allen Family Digital to buy 40M shares at $3.00/share for $120M; $20M cash + $100M promissory note at 5% due 5 years.
- Upon closing, Allen Family Digital will own ~52% of BuzzFeed; Byron Allen named Chairman and CEO, effective closing.
- Q1 revenue $31.6M (-12.4% YoY); net loss $15.1M vs $12.5M a year ago; adjusted EBITDA -$7.8M vs -$5.9M.
- Jonah Peretti steps down as CEO to become President of BuzzFeed AI; board expands from 4 to 8 with five Allen appointees.
- Nasdaq granted exception from shareholder approval rules; closing expected by end of May 2026.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
BuzzFeed, Inc. reported first quarter ended March 31, 2026 results: revenue $31.6 million, net income Net loss was $15.1 million.
- Period
- first quarter ended March 31, 2026
- Revenue
- $31.6 million
- Net income
- Net loss was $15.1 million
- Result
- reported results
Exact text from the filing
BuzzFeed delivered Q1 2026 revenues of $31.6 million
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Terence Hill was appointed as Class III Director at BuzzFeed, Inc..
- Action
- appointed as director
- Role
- Class III Director
Exact text from the filing
the Board appointed the following directors (the "New Directors") to the Board to fill the vacancies, effective as of the Closing Date: • Byron Allen as a Class I director; • Chris Malone as a Class I director; • Eric Gould as a Class III director; • Sydnie Karras as a Class III director; and • Terence Hill as a Class III director.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sydnie Karras was appointed as Class III Director at BuzzFeed, Inc..
- Action
- appointed as director
- Role
- Class III Director
Exact text from the filing
the Board appointed the following directors (the "New Directors") to the Board to fill the vacancies, effective as of the Closing Date: • Byron Allen as a Class I director; • Chris Malone as a Class I director; • Eric Gould as a Class III director; • Sydnie Karras as a Class III director; and • Terence Hill as a Class III director.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gregory Coleman departed as Director at BuzzFeed, Inc..
- Action
- resigned from Board and committees
- Role
- Director
Exact text from the filing
In connection with the Transaction, Gregory Coleman resigned from the Board and the Audit Committee, the Compensation Committee and the Nominating, Corporate Governance, and Corporate Responsibility Committee of the Board on May 11, 2026, effective as of the Closing Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Chris Malone was appointed as Class I Director at BuzzFeed, Inc..
- Action
- appointed as director
- Role
- Class I Director
Exact text from the filing
the Board appointed the following directors (the "New Directors") to the Board to fill the vacancies, effective as of the Closing Date: • Byron Allen as a Class I director; • Chris Malone as a Class I director; • Eric Gould as a Class III director; • Sydnie Karras as a Class III director; and • Terence Hill as a Class III director.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jonah Peretti departed as Chief Executive Officer at BuzzFeed, Inc..
- Action
- resigned as CEO and Chairman
- Role
- Chief Executive Officer
Exact text from the filing
In connection with the Transaction, Jonah Peretti resigned as Chief Executive Officer of the Company and Chairman of the Board on May 11, 2026, effective as of the Closing Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Eric Gould was appointed as Class III Director at BuzzFeed, Inc..
- Action
- appointed as director
- Role
- Class III Director
Exact text from the filing
the Board appointed the following directors (the "New Directors") to the Board to fill the vacancies, effective as of the Closing Date: • Byron Allen as a Class I director; • Chris Malone as a Class I director; • Eric Gould as a Class III director; • Sydnie Karras as a Class III director; and • Terence Hill as a Class III director.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Byron Allen was appointed as Chief Executive Officer and Chairman at BuzzFeed, Inc..
- Action
- appointed CEO and Chairman
- Role
- Chief Executive Officer and Chairman
Exact text from the filing
In connection with the Transaction and pursuant to the Stock Purchase Agreement, on May 11, 2026, the Board appointed Byron Allen to serve as Chief Executive Officer, a Class I director and Chairman of the Board, effective as of the Closing Date.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
BuzzFeed, Inc. entered into Stock Purchase Agreement with Allen Family Digital, LLC valued at $120.0 million (effective 2026-05-11).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Allen Family Digital, LLC
- Value
- $120.0 million
- Effective
- 2026-05-11
Exact text from the filing
BuzzFeed, Inc. (the "Company") entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Allen Family Digital, LLC (the "Investor"), pursuant to which the Company agreed to issue and sell to the Investor, 40,000,000 shares (the "Shares") of the Company's Class A common stock, par value $0.0001 per share (the "Class A common stock"), at a purchase price of $3.00 per share of Class A common stock, for aggregate consideration of $120.0 million
View on SEC.gov
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