BuzzFeed, Inc. Announces Sale of Complex to NTWRK in All-Cash Deal
The divestiture of Complex is expected to enhance the company’s profitability and allow for greater focus on BuzzFeed, HuffPost, First We Feast (including Hot Ones) and Tasty.
- The divestiture of Complex is expected to enhance the company’s profitability and allow for greater focus on BuzzFeed, HuffPost, First We Feast (including Hot Ones) and Tasty.
- Additionally, the cash proceeds from the sale of Complex will enable BuzzFeed, Inc. to take meaningful steps toward strengthening its balance sheet and improving liquidity.
- The company acquired “Complex Networks” in December 2021 for approximately $198 million in cash and $96 million in equity.
- First We Feast (including Hot Ones) was not sold to NTWRK and remains within BuzzFeed, Inc.