Cloud, Hardware Among Divisions That Outpaced Google’s Soaring HeadcountRead Now

BuzzFeed CEO Jonah Peretti. Photo by Bloomberg.

It’s Déjà Vu at BuzzFeed

Photo: BuzzFeed CEO Jonah Peretti. Photo by Bloomberg.

Greetings!

So, BuzzFeed executives are talking about making the company’s news division profitable. And they’re pivoting part of its business after realizing it was too reliant on Facebook to drive traffic. No, you didn’t just wake up in 2018. BuzzFeed executives are really saying the same things they were saying four years ago about some of the key challenges facing the company. 

It’s extraordinary that BuzzFeed hasn’t made more progress in that time on those issues. Consider that in 2018, when founder-CEO Jonah Peretti told The Information that BuzzFeed News was “on track” to become profitable, the news unit had 250 employees. Today, after earlier rounds of cuts, it has about 100, as The Verge’s Peter Kafka pointed out, and it plans to eliminate close to 30 jobs through buyouts. BuzzFeed wants the news operation to turn profitable next year, a top departing editor told staff today. Instead of being a vanguard of the digital age, BuzzFeed News is looking more like one of those aging newspapers that has to keep cutting employees as it tries to keep up with declining ad revenues. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing google amazon
Big Tech's Big Lie
Photo by Bloomberg
Is big tech killing itself? Recent mass layoffs at tech companies—which continued this week with cuts at DoorDash—have destroyed the image of big tech firms as lean and efficient machines. On the contrary: As investors such as Altimeter Capital and TCI have pointed out, firms like Google and Meta Platforms (not to mention Amazon) are overstaffed and bureaucratic. But a bigger issue may be signs...
Latest Briefs
 
TPG Backs $465 Million Fund for Logistics Startups Behind China’s Export E-Commerce
Opendoor Replaces Eric Wu as CEO
Coinbase Says Apple Restricted NFT Features in Coinbase Wallet
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Charlie Bell. Photo via Microsoft
Exclusive microsoft amazon
A Former Amazonian Hits Bumps in Push to Make Microsoft More Secure
When Microsoft last year recruited Charlie Bell, a top product engineering executive at Amazon Web Services, it was a major coup for the software giant.
Art by Clark Miller
The Big Read
‘I’m Licking My Chops. I Know It’s Going Down’: The Pissed-Off Crypto Traders Who Predicted—and Profited From—the FTX Implosion
Ishan Bhaidani had been patient for over a month, waiting for blood in the water. Now was his moment.
Data Point google
Where Google Has Grown
Alphabet has doubled the headcount in its Google Cloud unit since early 2019, according to data obtained by The Information, outstripping Alphabet’s overall hiring growth.
Art by Clark Miller.
Gift Hunting culture
The Information’s Top Tech-Adjacent Gifts for 2022
After the roller-coaster ride of the past month, everyone needs a little retail therapy. So, in honor of Black Friday and the upcoming holiday season, we’ve put together our annual gift guide, asking The Information’s staffers to share their favorite tech and tech-adjacent purchases of the last year.
startups venture capital
Six Investors Chasing Debt Deals During the Downturn
With equity investors dialing back and public markets frozen over, startups that need to raise money are short of options.
Photo by Bloomberg.
Exclusive
Marc Lore’s Kitchen on Wheels Startup Cuts Staff, Dials Back Delivery Ambitions
Wonder, a mobile kitchen and food-delivery startup led by Jet.com founder Marc Lore, has laid off 7% of its workforce, a company spokesperson said, as it attempts to overhaul its business.