BuzzFeed rises after Edge One Capital takes stake in media firm

BuzzFeed

29/07/2024 19:19

** Shares of digital media firm BuzzFeed  BZFD.O  rise 4.3%
to $2.92 
    ** Edge One Capital, an investment firm based in Raleigh,
North Carolina, announces stake in BZFD to drive shareholder
value
    ** "Many of the concerns about BuzzFeed stem from lapses in
corporate governance and the supervoting shares that privileged
shareholders receive, which must be addressed immediately,"
founder and managing partner of Edge One Capital Varun Gupta
says
    ** Earlier in May, Republican Vivek Ramaswamy revealed a
7.4% stake in BuzzFeed for about $4 mln, as per SEC filing
    ** Up to last close, stock more than doubled YTD

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))