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+1.14%
-2.06%
+0.80%
-0.69%
+0.50%
Dow Jones
32159.42
+297.44 (+0.93%)
S&P; 500
3941.48
+24.84 (+0.63%)
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11643.63
+13.12 (+0.11%)
Russell 2000
1746.92
+21.03 (+1.22%)
VIX
24.70
-0.81 (-3.18%)
Dow Jones
32159.42
+297.44 (+0.93%)
S&P; 500
3941.48
+24.84 (+0.63%)
Nasdaq
11643.63
+13.12 (+0.11%)
Russell 2000
1746.92
+21.03 (+1.22%)
VIX
24.70
-0.81 (-3.18%)
Last week, the company announced financial results for the full year and fourth quarter ended December 31, 2022.
• BuzzFeed delivered full year revenues of $436.7 million, growing 10% compared to 2021
• Advertising revenue was approximately flat at $202.8 million
• Content revenue grew 27% year-over-year to $165.8 million
"There's no denying that 2022 was a tough year for digital media. The challenges we faced in Q4 are also impacting us in Q1 2023, and it is clear we have more work to do to realize the full potential of our combined brand portfolio," said Jonah Peretti, BuzzFeed Founder & CEO. "As we work to address these challenges, our value proposition continues to resonate strongly in the marketplace. With iconic brands, a massive audience and a differentiated technology platform, we occupy a unique position in the ecosystem of audiences, creators, platforms and advertisers. And, our work in the exciting new areas of creators and artificial intelligence are continuing to lead the way in defining the future of media."
Well, the investors were not impressed from the numbers, the stock was down 25% for the day, a very ugly performance.
But, maybe, looking into the future, this is a great bargain at a very low price. Even Buzzfeed agreed the the current model is not working.
In January, Jonah Peretti, BuzzFeed the company CEO announced in a memo to its staff that it would be working with OpenAI to personalize content and improve its quizzes, according to The Wall Street Journal. On Feb. 14, BuzzFeed launched its AI-fueled quiz format, called Infinity Quizzes.
A deal with Meta Platforms Inc, was in the works. The deal, reached last year, was valued at close to $10 million and BuzzFeed will help generate content for Meta's platforms and train creators to grow their presence online, the report had said, citing people familiar with the situation.
Yes, Buzzfeed are seeing the future, and they will use AI to generate content, improve efficiency and probability. So maybe now, down almost 90% from its IPO price, it’s the bet on the future on Content and AI.
Disclaimer: The article does not constitute investment advice or marketing that takes into account the data and the special needs of each person.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by TrendSpott including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by TrendSpott including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
