…Already in 2016 there’s been an industry correction , particularly at start-ups. International Business Times, Mashable, and even BuzzFeed have laid off employees this year. Al Jazeera America and HuffPost Live both shuttered. The New Republic sold after Chris Hughes failed to transform it into the digital destination he thought it could be.
And now BuzzFeed, which missed its revenue target by 32 percent in 2015, has slashed its revenue projections for 2016 in half, from $500 million to $250 million.