BuzzFeed went public recently through a SPAC merger with 890 Fifth Avenue Partners in what may be the first in a wave of digital media companies making their public market debuts.
As a result of the higher than expected redemptions in the SPAC, BuzzFeed may run into a brick wall to fund its future acquisitions
Despite the steep discount, the company faces significant operational challenges ahead, including significant pressure on its balance sheet, scaling profitability and managing its capital in the long term.
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