BuzzFeed Inc. is planning to close a deal to go public via a merger with a special-purpose acquisition company, as part of a plan to consolidate with other players in digital media, reports The Wall Street Journal.
Jonah Peretti, BuzzFeed founder and CEO, could announce a deal with 890 5th Avenue Partners Inc., a blank-check company founded by investor Adam Rothstein.
The merger would provide additional funds to pursue additional acquisitions, including Complex Networks, a digital publisher specializing in streetwear, music and pop culture.
Through this, BuzzFeed is also eyeing on better competing for online ad dollars with tech giants such as Alphabet, Amazon and Facebook.
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