BuzzFeed Reaches Deal to Go Public Via SPAC, Acquire Complex Networks
The move is part of a plan to consolidate other players in digital media, as the company hopes scale will make it easier to compete for ad dollars with Google, Facebook and Amazon.
✒ Media is a hard business, so it’s important to let investors know that the company is not just a media company.
In the filing, on the page which shows “comparable company benchmarking analysis”, the company is put side-by-side with The New York Times (newspaper publisher), Etsy (e-commerce marketplace), Taboola (marketing tech company), Zynga (gamemaker), among others.
The page is not about what BuzzFeed is but what it aspires to be, and more importantly, what it wants investors to see it as. Such aspiration hinges on future acquisitions which step outside of its media-focus business.