Buzzfeed Warns It May Not Be Around Much Longer

BuzzFeed, once a defining name in viral internet culture, is warning investors it may not be able to survive. In its latest earnings report, the digital media company said there's "substantial doubt" about its ability to continue operating, citing ongoing liquidity problems and a lack of resources to cover its cash needs over the next year, reports CNN. BuzzFeed reported a net loss of $57.3 million in 2025 and acknowledged it is in "strategic conversations" aimed at easing its financial squeeze.

Founder and CEO Jonah Peretti argued the company's parts are worth more than Wall Street suggests, pointing to a "gap" between BuzzFeed's market value and the perceived value of its brands and assets. The company, which owns HuffPost and the food-focused online Tasty network, in addition to its flagship site, has cut its $165 million debt from three years ago by more than 65%, but Chief Financial Officer Matt Omer notes that "legacy commitments" are still weighing on the business. Omer says that leadership is "exploring strategic options" to put BuzzFeed on a path to sustainable profitability.

The Wall Street Journal reports that the company's shares fell 16% upon Thursday's news. Peretti said that looking ahead to 2026, BuzzFeed plans to emphasize its brands, studio intellectual property, and new AI-based apps, per CNN. The company's decline has been steady since its 2021 IPO. It shuttered its Pulitzer-winning BuzzFeed News division in 2023, has gone through multiple waves of layoffs and other cost-cutting, and sold Complex Networks in 2024. MarketWatch has more on how this "media darling" ended up on "the brink of bankruptcy." "They blew it," was one especially blunt take from Ken Lerer, whose company was one of BuzzFeed's earliest investors. "Jonah had every opportunity to make it work, and he just couldn't make it happen."