Exclusive: Jonah Peretti explains why he sold BuzzFeed
Jonah Peretti has agreed to sell 52 percent of BuzzFeed to Byron Allen for $120 million, marking a significant change in leadership. Peretti will step down as CEO and take on the role of president of BuzzFeed AI. This sale comes as BuzzFeed faces financial challenges, having previously been valued at $1.6 billion.
- ▪Jonah Peretti sold 52 percent of BuzzFeed for $120 million to Byron Allen.
- ▪Peretti will transition from CEO to president of BuzzFeed AI.
- ▪BuzzFeed was at risk of running out of cash before the sale.
Opening excerpt (first ~120 words) tap to expand
PodcastsClosePodcastsPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All PodcastsTechCloseTechPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All TechCreatorsCloseCreatorsPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All CreatorsExclusive: Jonah Peretti explains why he sold BuzzFeedThe soon-to-be-former CEO on AI, social media, and the end of an eraby Nilay PatelCloseNilay PatelEditor-in-ChiefPosts from this author will be added to your daily email digest and your homepage feed.FollowFollowSee All by Nilay PatelMay 18, 2026, 2:15 PM UTCLinkShareNilay PatelCloseNilay PatelPosts from this author will be added to your daily email…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Verge.
Discussion
0 commentsMore from The Verge
