Buzzfeed lost $57 million last year, damn.

The entertainment and media company BuzzFeed—once well-known for publishing the fake Russiagate dossier on President Donald J. Trump but refocusing in recent years on online quizzes, listicles, and AI-generated pop culture content—announced late Thursday that it is facing significant debts …

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Buzzfeed is headed for bankruptcy.

In early 2021, BuzzFeed’s CEO, Jonah Peretti, had a problem. He wanted to take the digital media company — one of the defining players of the internet’s past 15 years — public through a Special Purpose Acquisition Company, or SPAC. …

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