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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.

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Go deeper

Updated 2 hours ago - World

Trudeau's Liberals set to form minority government after Canada election win

Canadian Prime Minister Justin Trudeau. Photo: Jeff Vinnick/Getty Images

Canadian Prime Minister Justin Trudeau's Liberal government was reelected for a third term in Monday's parliamentary elections, but preliminary results show it failed to win a majority.

Why it matters: Trudeau has governed Canada with a minority of legislative support in parliament for the past two years. Last month, he called for an election two years earlier than scheduled in the hope of forming a majority government.

DOJ urges Supreme Court not to overturn Roe v Wade

Attorney General Merrick Garland during a Sept. 9 news conference at the Department of Justice in Washington, D.C. Photo: Samuel Corum/Bloomberg via Getty Images

The Department of Justice sought permission Monday to present oral arguments when the Supreme Court hears a case challenging Mississippi's strict abortion law, as it called on justices to uphold Roe v. Wade.

Why it matters: The two briefs, filed by acting solicitor general Brian Fletcher, mark the latest attempt by President Biden's DOJ to "protect the legal right to an abortion," per the New York Times, which first reported on the court filings.

4 hours ago - World

Reports: CIA director's team member reported Havana Syndrome symptoms

Central Intelligence Agency (CIA) director Bill Burns during a House Intelligence Committee hearing in April on Capitol Hill. Photo: Al Drago-Pool/Getty Images

A member of CIA director Bill Burns' team who traveled with him to India this month was treated for "symptoms consistent with Havana syndrome," CNN first reported Monday.

Why it matters: Current and former officials told the New York Times the incident signals a "possible escalation" in the mysterious neurological symptoms affecting as many as 200 Americans who've worked in overseas posts since 2016.