BuzzFeed pulled in around $100 million last year from businesses that didn’t exist in 2017, and it’s projected to hit similar numbers this year, according to a companywide memo and accompanying SXSW keynote from CEO Jonah Peretti.
The announcement indicates that the digital media company is beginning to see dividends from moves into areas like ecommerce sales, influencer services and commerce-integrated ad products in an attempt to wean itself off dependence on big-tech platforms. It comes after the company pared down its journalistic operations earlier this year, with mass layoffs that hit 15 percent of its workforce.
Peretti
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