Jonah Peretti
Coverage of Jonah Peretti in the Nexus archive.
- Exclusive: Jonah Peretti explains why he sold BuzzFeed
Jonah Peretti sold 52% of BuzzFeed to Byron Allen for $120 million, stepping down as CEO and becoming president of BuzzFeed AI. The deal is a liferaft for BuzzFeed, which was at risk of running out of cash. Jonah Peretti will focus on building audiences and influence through AI.
- Byron Allen strikes deal to buy controlling stake in BuzzFeed and become CEO
Byron Allen is buying a majority stake in BuzzFeed and becoming CEO, giving the company a lifeline after struggling with debt and shrinking revenue. The deal values BuzzFeed at more than three times its current market cap. Allen will complete the purchase through his family office, Allen Family Digital.
- Byron Allen taking over BuzzFeed
Byron Allen is taking over as CEO of BuzzFeed, replacing Jonah Peretti who will become president of BuzzFeed AI. Allen's investment firm purchased 40 million shares of BuzzFeed Inc. at $3.00 per share. This transition is expected according to a company release.