BuzzFeed’s Peretti on How Pandemic Squashed 2020 Profit Hopes

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At the height of the coronavirus pandemic a few months ago, advertisers owed BuzzFeed around $100 million in payments from the fourth quarter, almost one-third of the company’s revenue for last year. CEO Jonah Peretti was worried that with the businesses grinding to a halt and many companies suspending advertising, BuzzFeed wouldn’t be able to collect.

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