Vivek Ramaswamy Buzzfeed stake sends shares up 20%, seeking strategic ‘shift'

Ramaswamy's Strive Asset Management has pushed companies to stay out of"woke" politics and opposed the widespread adoption of environmental, social and governance, or ESG, principles."Stay tuned," Ramaswamy told CNBC via a spokesperson. The wealthy conservative indicated in a regulatory filing that he would seek to dialogue with Buzzfeed's management about every aspect of the company's operations, up to and including an acquisition by a third party.

BuzzFeed did not return a request for comment. The media outlet went public via de-SPAC in an ill-received 2021 debut. Shares have fallen 94% since then, with CEO Jonah Peretti telling CNBC inRamaswamy's involvement raises questions about Buzzfeed's direction. His Strive Asset Management has pushed companies to stay out of"woke" politics and opposed the widespread adoption of environmental, social and governance, or ESG, principles.

in 2023, laying off 15% of its staff at the time. BuzzFeed was dependent on social-media and search traffic to drive visitors to its properties, and as those platforms have changed or deprioritized news it has also impacted BuzzFeed's bottom line.. He is also the author of"Woke, Inc.," where he decried the social justice movement sweeping the country in 2020 and 2021 as a"scam.

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