Buzzfeed and VICE were the digital unicorns of the 2010s. These two companies had seemingly figured the secret sauce to go viral in this new online world. There were also smaller startups like Vox, Thrillist, Mashable, and Insider who surged off the same tailwinds. Digital media was a new type of business where all the consumption, distribution, and creation was all entirely online.
Fast forward 10 years and Buzzfeed is a penny stock. They get a fraction of the viewership and readership these days despite developing hit brands like Tasty and breakthrough shows like Hot Ones. VICE declared bankruptcy in 2023. They’ve both laid off staff and cut back - and so has Vox and Business Insider. How could so many shows and views be worth so little?
Modern MBA
Buzzfeed and VICE were the digital unicorns of the 2010s. These two companies had seemingly figured the secret sauce to go viral in this new online world. There were also smaller startups like Vox, Thrillist, Mashable, and Insider who surged off the same tailwinds. Digital media was a new type of business where all the consumption, distribution, and creation was all entirely online.
Fast forward 10 years and Buzzfeed is a penny stock. They get a fraction of the viewership and readership these days despite developing hit brands like Tasty and breakthrough shows like Hot Ones. VICE declared bankruptcy in 2023. They’ve both laid off staff and cut back - and so has Vox and Business Insider. How could so many shows and views be worth so little?
2 months ago | [YT] | 153