Exclusive: Jonah Peretti explains why he sold BuzzFeed
Just days before we spoke, BuzzFeed co-founder and CEO Jonah Peretti agreed to sell the company, which was losing money and at risk of shutting down. Now there’s a new lease on life — and new leadership. Jonah is taking on a new role as president of BuzzFeed AI, and Byron Allen will become CEO of BuzzFeed.
That’s obviously a huge structural and organizational change, and a really big decision — prime Decoder bait if there ever was any. What are digital media companies doing to adapt and survive in an information landscape dominated by algorithmic social platforms?
Read the full interview transcript on The Verge.
Links:
Byron Allen is buying BuzzFeed and becoming CEO | Variety
BuzzFeed issues going concern warning, lacks liquidity | Wall Street Journal
BuzzFeed News is shutting down | The Verge
BuzzFeed sells Hot Ones studio in $82.5M deal | NBC News
The unbearable lightness of BuzzFeed | The Verge
I hate myself because I don’t work for BuzzFeed (2015) | The Awl
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Credits:
Decoder is a production of The Verge and part of the Vox Media Podcast Network.
Decoder is produced by Kate Cox and Nick Statt; this episode was edited by Kabir Chopra. Our editorial director is Kevin McShane.
The Decoder music is by Breakmaster Cylinder.
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Advice Line with Jonah Peretti of Buzzfeed
Today’s callers: Anthony from Miami considers the best method to grow his pop-up outdoor movie theater business. Then Andrew in San Francisco asks how to set his cat wrestling toy apart from competitors. Finally, Melissa in Massachusetts seeks strategies for getting busy parents excited about her healthy frozen muffins.
Plus, Jonah shares what’s next for Buzzfeed as the company marks 20 years of business.
Thank you to the founders of Motion Flix, CATSUMO, and Unrefined Foods for joining us on the show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Buzzfeed’s founding story as told by Jonah on the show in 2017.
This episode was produced by Katherine Sypher with music by Ramtin Arablouei. It was edited by Casey Herman. Our audio engineer was Kwesi Lee.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Rapid Response: Lessons from the demise of BuzzFeed News, w/CEO Jonah Peretti
Rapid Response with Bob Safian: If the most prestigious aspect of your business isn’t paying dividends, should you leave it in the past? BuzzFeed’s co-founder and CEO, Jonah Peretti discusses the surprising decision to shutter the Pulitzer Prize-winning BuzzFeed News, and how the company seeks to re-anchor toward the bright future of media. In his third appearance on Rapid Response, Peretti shares lessons about redefining the tool of social media, leading a private versus public business, and how to tune-out the external noise.
Read a transcript of this episode: https://mastersofscale.com/
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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Rapid Response: How BuzzFeed bounced back, w/Jonah Peretti
Millennials and Gen Z want different experiences, different content, different opportunities. But catering to those distinct needs wasn't enough, says BuzzFeed co-founder and CEO Jonah Peretti; the digital-media outfit also needed to create a flywheel for value. When the pandemic trimmed tens of millions in revenue, Peretti cut back on costs – but kept the flywheel spinning. By the end of 2020 his team had engineered a rebound, finishing the year with record profitability. Now, the company has announced plans to go public via SPAC at a $1.5 billion valuation. With the acquisitions of HuffPost and Complex Networks, Peretti has shown that his ambitions are just beginning.
Read a transcript of this interview at: mastersofscale.com
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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Rapid Response: BuzzFeed’s Jonah Peretti: Record-high audience, record-low revenue
BuzzFeed audience is at record highs. But the pandemic's economic effects have crushed the bottom line. BuzzFeed co-founder and CEO Jonah Peretti shares how his company is making hard decisions to build long-term stability. “But the transition is painful,” he says. While BuzzFeed is leaning into food vertical Tasty, new e-commerce habits, and BuzzFeed News, he worries that businesses like his don't have more resources to support staffers of color. But, he says, there's a clarity of purpose in crisis, in bearing witness to the things that are happening in the world. Interviewed by editor Bob Safian.
Read a transcript of this episode at https://mastersofscale.com
Subscribe to the Masters of Scale weekly newsletter at https://mastersofscale.com/subscribe
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
What's Next for the Internet?
How can we evolve the web for a better future? Has the web become a mature platform — or are we still in the early days of knowing what it can do and what role it might have in our lives? Just as “social/local/mobile” once did, what are the new trends — like crypto and blockchain networks and commerce everywhere — that might converge into new products and experiences?
Chris Dixon (general partner at a16z and co-lead of the a16z crypto fund) discusses all things internet with Jonah Peretti (founder and CEO of BuzzFeed). Their conversation ranges from the early days of the web to the way innovation happens (what Chris calls “outside-in vs inside-out”) to the promise of a community-owned and operated internet, and more.
Together they explore the possibilities that could co-evolve and converge are we enter into the next era of the web, and they share how we might not be quite as far removed from the “wild west days” of the internet as we imagined.
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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.
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Live Episode! BuzzFeed: Jonah Peretti
In 2001, when most of us had no idea what it meant to "go viral," Jonah Peretti shared an email prank among his friends — and saw it spread to millions. That began his fascination with how information spreads, and set him on the path to launch two of the most powerful media organizations of the Internet age: The Huffington Post and BuzzFeed. Recorded live in New York City.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Recode Decode: Buzzfeed founder Jonah Peretti
BuzzFeed is one of the most important and successful new media companies, tying together deeply reported impact journalism with content optimized for the digital age. Peter Kafka talks with founder and CEO Jonah Peretti, and later on, The Verge's Lauren Goode discusses the Apple event and Jason Del Rey dishes about mobile payments.
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