<p id="thickbox_headline">American digital company BuzzFeed, known for its viral content and journalism, will go public on Monday after it initially raised less money than expected.</p>.<p>In a press release Friday, BuzzFeed said it had finalized a merger with 890 5th Avenue Partners, a special purpose acquisition company (SPAC), which aims to raise funds through an initial public offering to acquire an existing company.</p>.<p>Buzzfeed's shares are expected to start trading on the Nasdaq on Monday under the ticker symbol "BZFD".</p>.<p>BuzzFeed aimed to be valued on Wall Street at $1.5 billion but it raised just $16 million from the SPAC deal, which was announced in June.</p>.<p>BuzzFeed initially said 890 5th Avenue Partners held about $288 million in cash, but the majority of investors ultimately withdrew.</p>.<p>The digital company also raised $150 million in debt financing as part of the deal.</p>.<p>BuzzFeed, created in 2006, first became known for its lists and topical quizzes, before broadening its offerings with a Pulitzer Prize-winning news division, YouTube channel and podcasts.</p>.<p>In November 2020, the platform headquartered in New York bought the Huffington Post news site from Verizon, without disclosing the amount.</p>.<p>Buzzfeed's public listing comes just days after employees at the news arm staged a 24-hour walkout protesting the company's failure to offer certain contract conditions, including a salary base of $50,000, after nearly two years of negotiations.</p>.<p>"BuzzFeed won't budge on critical issues like wages -- all while preparing to go public and make executives even richer," the union said on Twitter.</p>.<p>As part of the SPAC deal, BuzzFeed has also acquired Complex Networks, a media company jointly run by Verizon and Hearst.</p>.<p><strong>Watch the latest DH videos:</strong></p>
<p id="thickbox_headline">American digital company BuzzFeed, known for its viral content and journalism, will go public on Monday after it initially raised less money than expected.</p>.<p>In a press release Friday, BuzzFeed said it had finalized a merger with 890 5th Avenue Partners, a special purpose acquisition company (SPAC), which aims to raise funds through an initial public offering to acquire an existing company.</p>.<p>Buzzfeed's shares are expected to start trading on the Nasdaq on Monday under the ticker symbol "BZFD".</p>.<p>BuzzFeed aimed to be valued on Wall Street at $1.5 billion but it raised just $16 million from the SPAC deal, which was announced in June.</p>.<p>BuzzFeed initially said 890 5th Avenue Partners held about $288 million in cash, but the majority of investors ultimately withdrew.</p>.<p>The digital company also raised $150 million in debt financing as part of the deal.</p>.<p>BuzzFeed, created in 2006, first became known for its lists and topical quizzes, before broadening its offerings with a Pulitzer Prize-winning news division, YouTube channel and podcasts.</p>.<p>In November 2020, the platform headquartered in New York bought the Huffington Post news site from Verizon, without disclosing the amount.</p>.<p>Buzzfeed's public listing comes just days after employees at the news arm staged a 24-hour walkout protesting the company's failure to offer certain contract conditions, including a salary base of $50,000, after nearly two years of negotiations.</p>.<p>"BuzzFeed won't budge on critical issues like wages -- all while preparing to go public and make executives even richer," the union said on Twitter.</p>.<p>As part of the SPAC deal, BuzzFeed has also acquired Complex Networks, a media company jointly run by Verizon and Hearst.</p>.<p><strong>Watch the latest DH videos:</strong></p>