BuzzFeed Shares Jump 135% as Byron Allen Secures 52% Stake for $120M
BZFD•BuzzFeed shares jumped 135% in after-hours trading as Byron Allen’s family office agreed to acquire a 52% stake for $120 million at $3.00. The purchase, structured as $20 million cash and a $100 million promissory note, follows Q1 2026 results with a 12.4% revenue decline and $15.1 million net loss.
1. Deal Terms
Byron Allen’s family office will acquire a 52% controlling stake in BuzzFeed for $120 million, paying $20 million in cash and issuing a $100 million promissory note at $3.00 per share.
2. Share Price Surge
BuzzFeed’s stock jumped over 135% in after-hours trading on the announcement, reflecting investor optimism about the new ownership and potential strategic turnaround.
3. Q1 2026 Financial Results
The company reported a 12.4% year-on-year revenue decline in Q1 2026 and posted a $15.1 million net loss, underscoring ongoing profitability challenges.
4. Strategic Outlook
The capital infusion is intended to support planned AI-driven content and technology expansion, positioning the company for accelerated growth under new majority ownership.
