According to an SEC filing, Ramaswamy believes BuzzFeed shares "are undervalued and represent an attractive investment opportunity." He intends to engage the board in discussion over "numerous operational and strategic opportunities to maximize shareholder value, including a shift in the company's strategy."
The disclosure of the stake raises more questions about BuzzFeed's strategic direction. Ramaswamy, a 38-year-old biotech entrepreneur, endorsed Donald Trump afterFILE - Vivek Ramaswamy speaks during the Conservative Political Action Conference, CPAC 2024, at National Harbor, in Oxon Hill, Md., Saturday, Feb. 24, 2024. Ramaswamy had purchased a 7.7% stake in Buzzfeed, the Pulitzer Prize winning digital media outlet that went into restructuring last year.
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Source: News Formal (newsformal.com)
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