Former Republican presidential candidate Vivek Ramaswamy met with BuzzFeed CEO Jonah Perriti for an hour after sending a letter to the media company's board of directors urging change.
Last month, former 2024 presidential candidate Vivek Ramaswamy disclosed a 7.7% stake in Buzzfeed (NASDAQ: BZFD ) stock, equivalent to 2.72 million shares. At the time, Ramaswamy stated that he believed BZFD stock was undervalued and that he wanted to engage in communications with the company's board and executives in order to maximize shareholder value.
Former US presidential candidate Vivek Ramaswamy has reportedly urged Buzzfeed Inc (NASDAQ:BZFD) to overhaul its operations after increasing his stake in the company to 8.3%. He recommends cutting staff, focusing on video, and hiring new voices like former Fox News host Tucker Carlson.
Vivek Ramaswamy has called on digital media firm, BuzzFeed, to cut staff, invest in its audio and video capabilities, and hire high-profile “content creators” like Candace Owens and Tucker Carlson, in a letter to the media company's board.
Investor and former Republican presidential candidate Vivek Ramaswamy has laid out his plans for BuzzFeed. He envisions turning the company into a Twitter/X-style user-generated content company.
BuzzFeed (NASDAQ: BZFD ) is among the media stocks that have come back to life in recent months. Indeed, shares of BZFD stock have surged from a low of less than 70 cents earlier this year to around the $3 level today.
Vivek Ramaswamy, who disclosed a big stake in BuzzFeed last week, sent a letter to the online publisher's board of directors asking for major changes from staffing and focus to the board makeup as well as an apology for previous reporting.
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BuzzFeed's board received a detailed letter from investor and shareholder Vivek Ramaswamy about the need for change at the media outlet, which he says has "lost its way."
Vivek Ramaswamy has issued a seven-page letter to BuzzFeed, urging the media company to add three more board seats and adapt its business model to survive amid a decimated market value.
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.