BuzzFeed missed its revenue target for 2015 and has reportedly slashed its internal projections for 2016. With projections nearly cut in half, insiders are questioning if the new media group can meet the lofty valuation set by investors.
The company that has become a player in the world of news and politics after building a reputation on simple listicles had projected about $250 million in revenues for 2015, but generated less than $170 million, according to Financial Times.
A buzzFeed spokesperson issued the following comment: Regardless of your sources, much of your information is significantly incorrect. We are very please with where BuzzFeed is today and where it will be tomorrow. We are very comfortable where the digital content world is going and think we are well positioned.
