Mar 29, 2017

Scoop: BuzzFeed going public in 2018

William B. Plowman, Invision for BuzzFeed / AP Images

With a blinding spotlight on Snap's IPO, viral powerhouse BuzzFeed is quietly making preparations to go public in 2018, industry sources tell me. OMG!

The widely (and poorly) copied BuzzFeed, which began as a "great cat site" and now has foreign correspondents and a massive BuzzFeed Motion Pictures studio in L.A., mastered the art of sharable content and became a defining brand of the Internet age.

  • The pitch: BuzzFeed, with news and entertainment divisions, styles itself as a media-tech company with "the innovation obsessed culture and structure of a venture-backed tech company": "We are best known for exploding watermelons, The Dress, Tasty, award-winning news investigations, quizzes, and lists."
  • The strategy: BuzzFeed CEO Jonah Peretti has turned down past offers from media companies, and has long planned to go public.
  • Peers: The Big Four of modern digital content companies are BuzzFeed, Vox, Vice and Group Nine Media (millennial-focused online publishers Thrillist, NowThis, The Dodo and Seeker).
  • All have partnered with traditional media companies: NBC invested in BuzzFeed and Vox (and is an investor in Axios), Disney invested in Vice, and Discovery invested in Group Nine.
  • "Vice wants to sell," a top industry source said.
  • What we're watching: Quartz — an Atlantic Media property which, rumor has it, almost sold to Japan's Nikkei a while back — also looks like it might be spiffing up for a possible buyer. Crain's reported this week that the site, designed for the global business class, has turned a profit, earning $1 million in 2016 revenue of $30 million. There have been lots of stories about its financial performance and potential of late — and all seem aimed at attracting possible suitors.

Note: BuzzFeed is backed by Lerer-Hippeau, which also invested in Axios.

Go deeper

The right and left internet loves Anthony Fauci

Data: Newswhip; Chart: Naema Ahmed/Axios

If you feel like you're suddenly spending a surprising amount of your days thinking and talking about Anthony Fauci, you're not alone. He's become the third-most talked about person online, according to data from NewsWhip provided to Axios.

Why it matters: Fauci, the director of the National Institutes of Health office that deals with infectious diseases, has quickly become a household name, and one of the few household names with (mostly) bipartisan credibility.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 1,014,673 — Total deaths: 52,973 — Total recoveries: 210,335Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 244,678 — Total deaths: 5,911 — Total recoveries: 9,058Map.
  3. 2020 updates: The Democratic National Committee said its July convention will be postponed until August because of the coronavirus. A federal judge declined to delay Wisconsin's April 7 primary election.
  4. Jobs latest: Coronavirus unemployment numbers are like a natural disaster hitting every state.
  5. Public health latest: Anthony Fauci called for all states across the U.S. to issue stay-at-home orders. The FDA will allow blood donations from gay men after 3-month waiting period, citing "urgent need."
  6. Business latest: Treasury Secretary Steven Mnuchin said oil companies are eligible for aid from new lending programs the Federal Reserve is setting up, but not direct loans from his department.
  7. U.S.S. Theodore Roosevelt: Navy removes captain of aircraft carrier who sounded alarm about coronavirus.
  8. 1 future thing: In developing countries, consequences of COVID-19 could be deeper and far more difficult to recover from.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Mark Meadows considers new White House press secretary

Photos: Alyssa Farah, Defense Department; Stephanie Grisham, Alex Wong/Getty Images; Kayleigh McEnany, Scott W. Grau/Icon Sportswire via Getty Images

White House Chief of Staff Mark Meadows has privately discussed bringing on Pentagon spokesperson Alyssa Farah or Trump campaign spokesperson Kayleigh McEnany as a new White House press secretary, two sources familiar with the talks tell Axios.

Why it matters: Meadows' start on Tuesday as Trump's new chief presents a chance to overhaul a press shop that's kept a low profile since President Trump ended the tradition of daily press secretary briefings.