BuzzFeed missed its revenue target for 2015 and has slashed its internal projections for 2016 by about half, raising questions about whether the online news and entertainment network can meet the sky-high valuations put on new media groups by investors.
The company, known for its lists, irreverent content and fast-growing editorial operation, had projected about $250m in revenues for 2015 but generated less than $170m, according to three people with knowledge of the situation. The company has halved its internal revenue target for 2016 from $500m to $250m, the people said.
For the full story read The FT