Announcement • May 30
Buzzfeed, Inc. Announces Management Changes in Buzzfeed Ai BuzzFeed, Inc. announced that Byron Allen has assumed the role of Chairman and Chief Executive Officer, and Jonah Peretti has transitioned to his newly created role as President of BuzzFeed AI. Byron Allen is the Founder, Chairman and CEO of Allen Media Group which he founded in 1993 and is headquartered in Los Angeles. Allen owns 13 ABC-CBS-NBC network affiliate broadcast television stations in 11 U.S. markets and ten 24-hour HD television networks serving nearly 315 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, JUSTICECENTRAL.TV, THEGRIO TELEVISION NETWORK, and HBCU GO. Allen also owns the digital streaming platforms HBCU GO, SPORTS.TV, LOCAL NOW and THE WEATHER CHANNEL STREAMING APP. Allen owns a two-hour nightly comedy block on CBS Network, and also produces, distributes, and sells advertising for 74 television programs, making him one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations, cable networks, and digital platforms. Jonah Peretti co-founded BuzzFeed in 2006 and has served as the Company's Chief Executive Officer since its founding. Under his leadership, BuzzFeed became one of the defining digital media brands of a generation, pioneering social distribution, viral content, and AI-assisted publishing. In his new role as President of BuzzFeed AI, Peretti will bring his strategic focus to applied AI research, product innovation, and the development of new technology-driven media formats. Announcement • May 28
BuzzFeed, Inc. announced that it has received $20.000001 million in funding from Allen Family Digital, LLC On May 26, 2026, BuzzFeed, Inc. closed the transaction. The company issued 6,666,667 class A common shares at an issue price of $3 for gross proceeds of $20,000,001. The transaction includes participation from new investor, Allen Family Digital, LLC. Announcement • May 12
BuzzFeed, Inc. announced that it expects to receive $20.000001 million in funding from Allen Family Digital, LLC BuzzFeed, Inc. announced that it has entered into a Stock Purchase Agreement with Allen Family Digital, LLC pursuant to which the Company agreed to issue and sell to the Investor, 6,666,667 shares of the Company’s Class A common stock, par value $0.0001 per share at an issue price of $3.00 per share of Class A common stock, for aggregate consideration of $20,000,001 on May 11, 2026. The transaction is expected to close on or about May 26, 2026 subject to customary closing conditions. The Stock Purchase Agreement includes customary representations, warranties, and covenants between the parties. In connection with the Transaction, Jonah Peretti, LLC, an affiliate of Jonah Peretti, the Company’s founder, Chief Executive Officer and Chairman, has agreed to convert all 1,309,354 of its shares of the Company’s Class B common stock, par value $0.0001 per share (the “Class B common stock”), into Class A common stock on the Closing Date. Based on 36,296,018 shares of Class A common stock outstanding as of May 5, 2026 and after giving effect to the Transaction (including the Stock Conversion), Peretti would beneficially own approximately 2% of the Company’s outstanding Class A common stock and none of the Company’s outstanding Class B common stock. In connection with the Transaction and pursuant to the Stock Purchase Agreement, the Board increased the size of the Board from four members to eight members, effective as of the Closing Date. The Board appointed Byron Allen as a Chief Executive Officer, a Class I director and Chairman of the Board, Chris Malone as a Class I director; Eric Gould as a Class III director; Sydnie Karras as a Class III director; and Terence Hill as a Class III director.