Former Republican presidential candidate and biotech entrepreneur
Shares of the company skyrocketed higher Wednesday.
Ramaswamy acquired a 7.7% stake in BuzzFeed, according to a filing with the
Ramaswamy said in the filing that he believes BuzzFeed's stock is undervalued. He is looking to speak with the company's board and management.
BuzzFeed has struggled to prop up sales since it went public in 2021. In late 2022 job cuts began rolling out with the company citing a poor digital advertising environment, then early last year announced that it was shutting down its Pulitzer Prize winning digital media outlet
The corporate parent’s co-founder and CEO
Earlier this month, BuzzFeed reported a first-quarter loss of
Ramaswamy suspended his bid for the 2024 Republican presidential nomination in January and endorsed former President
The son of Indian immigrants, Ramaswamy entered politics at the highest level after making hundreds of millions of dollars at the intersection of hedge funds and pharmaceutical research, a career he charted and built while graduating from
Shares of
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