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Jonah Peretti Admits BuzzFeed SPAC Has Been Shitshow, Blames Third Party

8 points by elsewhen 5y ago

ipspam 5y ago
It's buzzfeed. Hard to feel sorry for the employee that drive the ompanies reputation into the ground. Yeah, they should have been able to cash out earlier, but they are getting fair market value for their work.
rvz 5y ago
It has been admitted and the confession is there. After a high of $14 after SPACing on the NASDAQ last week, it has cratered to $6; over 50% down in days. And yes, that includes the same 'BuzzFeed News' that is under BuzzFeed Inc, as if that matters in this SPAC given that was repeatedly brought up. [0] Either way, the investors and the markets do not care. The employees couldn't sell either. At least they provided great shareholder value for the other SPAC investors who withdrew before it was listed. [0] https://news.ycombinator.com/item?id=29459661 https://news.ycombinator.com/item?id=29459661