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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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William B. Plowman, Invision for BuzzFeed / AP Images

Both BuzzFeed and Vice Media will miss their 2017 revenue projections, according to The Wall Street Journal. The paper also reports that Ziff Davis has agreed to buy tech-focused Mashable for just $50 million, or around one-quarter of what Mashable was valued at by its venture capitalists in early 2016.

Bottom line: This could put pressure on valuations for digital media startups, particularly those with ad-supported revenue models.

BuzzFeed: WSJ reports that the company will come in between 15% and 20% short of its $350 million revenue projections, likely postponing its planned IPO past 2018. Here is how a company source spun the news to WSJ:

"One person close to BuzzFeed said the performance reflects a more general malaise this year in ad-supported media businesses and isn't particular to the company."

Vice: The company won't hit its $800 million revenue projection for 2017, although the exact shortfall is unclear. There also has been rampant speculation about Vice going public.

Mashable: Ziff Davis is paying just $50 million for Mashable, which has raised over $45 million in venture capital funding (including a $15 million Series C round last year at a $200 million post-money valuation). Its investors included Time Warner Investments.

Go deeper

Companies turn to pay hikes to lure workers

Illustration: Brendan Lynch/Axios

More hourly workers are getting a pay bump. Thank the new war for employees.

Why it matters: To meet the demand that's only expected to get more ferocious as reopening continues, companies are having to bid up to attract workers.

Latino mental health crisis grows

Shoshana Gordon/Axios

Over 40% of Latino adults have reported symptoms of depression during the pandemic, in contrast to 25% of white non-Hispanics, the CDC reports.

Why it matters: The emotional distress is especially acute for Latinos who had COVID-19, some of them tell Noticias Telemundo.

Misinformation is just one part of a vaccine trust problem

Illustration: Sarah Grillo/Axios

COVID-19 is the first major pandemic in the social media era — offering experts a rare opening to study the relationship between online misinformation and human behavior on a large scale.

Why it matters: As misinformation about COVID-19 vaccines runs rampant, researchers are trying to measure how much memes and messages with false information can alter someone's decision to get vaccinated.

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