BuzzFeed cuts sales forecasts by half after disappointing year


BuzzFeed has been forced to cut it's projected revenue by about half, after the online publisher missed its financial targets in 2015.

According to a report in the Financial Times, the company has been forced to cut its 2016 revenue target from $500m to $250m after missing its 2015 target by more than $80m.

The company reportedly projected revenues of $250m in 2015 but generated less than $170m.

A spokeswoman for BuzzFeed did not immediately return a request for comment. “We are very comfortable with where the digital content world is going and think we are well-positioned,” a representative told the Financial Times in an unattributed statement. The company did not provide other figures.

BuzzFeed was valued at $1.5bn last year following a $200m investment by NBCUniversal following a 2011 decision to branch out into high quality reporting and video content.

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