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.

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Source: SEC EDGAR

accession 0001828972-26-000054

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