--- schema_version: "secwatch.filing_event.v1" accession: "0001828972-26-000054" form_type: "8-K" ticker: "BZFD" cik: "0001828972" company_name: "BuzzFeed, Inc." filed_at: "2026-05-11T21:02:32+00:00" generated_at: "2026-05-11T21:05:06.220545+00:00" event_type: "m_and_a" sentiment: "negative" materiality_score: 0.95 calibrated_materiality_score: 0.95 confidence: "high" source: SEC EDGAR --- # BuzzFeed receives $120M majority investment from Byron Allen's family office; Q1 revenue $31.6M ## Summary - 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. ## SEC filing metadata - accession: 0001828972-26-000054 - form_type: 8-K - ticker: BZFD - cik: 0001828972 - company_name: BuzzFeed, Inc. - filed_at: 2026-05-11T21:02:32+00:00 - event_type: m_and_a - sentiment: negative - materiality_score: 0.95 - calibrated_materiality_score: 0.95 - confidence: high - sec_items: 1.01, 2.02, 3.02, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/bzfd-20260511.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001828972-26-000054 - JSON: https://secwatch.observer/filing/0001828972-26-000054.json - Plain text: https://secwatch.observer/filing/0001828972-26-000054.txt ## Key facts - Earnings Releases 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 source text: BuzzFeed delivered Q1 2026 revenues of $31.6 million evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Terence Hill was appointed as Class III Director at BuzzFeed, Inc.. - Action: appointed as director - Role: Class III Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Sydnie Karras was appointed as Class III Director at BuzzFeed, Inc.. - Action: appointed as director - Role: Class III Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Gregory Coleman departed as Director at BuzzFeed, Inc.. - Action: resigned from Board and committees - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Chris Malone was appointed as Class I Director at BuzzFeed, Inc.. - Action: appointed as director - Role: Class I Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Jonah Peretti departed as Chief Executive Officer at BuzzFeed, Inc.. - Action: resigned as CEO and Chairman - Role: Chief Executive Officer source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Eric Gould was appointed as Class III Director at BuzzFeed, Inc.. - Action: appointed as director - Role: Class III Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Executive change Byron Allen was appointed as Chief Executive Officer and Chairman at BuzzFeed, Inc.. - Action: appointed CEO and Chairman - Role: Chief Executive Officer and Chairman source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm - Material Agreements 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897226000054/0001828972-26-000054-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.