Former Republican presidential candidate Vivek Ramaswamy is pushing for major change at troubled news outlet BuzzFeed and has been quietly acquiring shares in the company, catapulting him to the second-largest Class A shareholder with an 8.37% stake. In a letter to BuzzFeed's board of directors, reviewed by FOX Business, the entrepreneur and investor lays out his vision to rescue the media brand. Ticker Security Last Change Change % BZFD BUZZFEED 2.80 +0.16 +6.06% READ THE FULL LETTER HERE: BuzzFeed While s ...

Since going public in December 2021, BuzzFeed's market value has plummeted from around $1.5 billion to just under $100 million. While shares of BuzzFeed have rallied 180% this year, the recent boost coincided with reports of Ramaswamy's buying of the shares. He is now the second-largest Class A shareholder with an 8.37% stake. "The public markets have spoken," Ramaswamy said, adding, "I own your stock because I believe BuzzFeed can still become a more valuable company than at its initial listing, but this r ...

Entrepreneur Vivek Ramaswamy has taken a 7.7% stake in BuzzFeed, according to a filing from the Securities and Exchange Commission (SEC). The former Republican presidential candidate's SEC filing revealed the acquisition came between March 14 and May 21, making up 2.7 million shares. Costs of the shares ranged anywhere between $1.54 and $2.51, according to the filing. Ramaswamy said in the filing that he believes BuzzFeed's shares are "undervalued and represent an attractive investment opportunity." The fil ...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Why is Vivek Ramaswamy buying up shares of BuzzFeed? Let's start by stating the obvious: It is very funny to type the sentence "Why is Vivek Ramaswamy buying up shares of BuzzFeed?" Ramaswamy, as you may recall, was a fringe candidate in the most recent Republican presidential primary, where his platform consisted of praising Donald Trump and promising to "Take America First further than Trump." He dropp ...

Topline Entrepreneur and possible Trump running mate Vivek Ramaswamy bought nearly 3 million shares of Buzzfeed in recent months, giving him a 7.7% stake in the struggling media company and making him the fourth largest investor—leading Buzzfeed's share price to spike. About $115 million. That's Buzzfeed's market capitalization as of Wednesday afternoon, a far cry from its over $1 billion valuation when it went public in 2021. Buzzfeed's share price was up about 14% just before noon on Wednesday after Vivek ...

After failing to become President of the United States, Vivek Ramaswamy has decided to turn his attention to a new venture. Indeed, the former Republican candidate has acquired an activist stake in BuzzFeed (NASDAQ:BZFD) and BZFD stock. Originally an entertainment company that published online quizzes and humorous articles, BuzzFeed also demonstrated its prowess as a news reporting venue when former President Donald Trump rose to political prominence. Now Ramasway — a far-right politician who has displayed ...

A well-known public figure has been buying up shares at a head-turning pace. Shares of digital media company BuzzFeed (BZFD 24.00%) had been stuck in the doldrums over the past year. But today, the stock suddenly skyrocketed after former presidential candidate Vivek Ramaswamy disclosed a major investment in the company. As of 10 a.m. ET on Wednesday, BuzzFeed stock was up around 30% -- but it had been up as much as 82% earlier in the day. How much does he own? The market capitalization for BuzzFeed has most ...

Former Republican presidential candidate and biotech entrepreneur Vivek Ramaswamy has purchased a minority stake in Buzzfeed, the digital publishing company that shut down its media outlet last year. Shares of Buzzfeed Inc., based in New York City, skyrocketed about 20% to $2.99 on Wednesday. Ramaswamy acquired a 7.7% stake in Buzzfeed, according to a filing with the Securities and Exchange Commission late Tuesday. Ramaswamy said in the filing that he believes Buzzfeed's stock is undervalued. He is looking ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical wri ...

Shares surged roughly 50% on the news. The stock closed Tuesday at $2.50. Former U.S. President and Republican presidential candidate Donald Trump looks on as former Republican presidential candidate Vivek Ramaswamy speaks at a rally by Trump, in advance of the New Hampshire primary election in Laconia, New Hampshire, U.S. January 22, 2024. Former GOP presidential hopeful Vivek Ramaswamy has an 8% stake in BuzzFeed and is seeking to effect a "shift" in the media firm's strategy, the investor said Tuesday in ...