Subsequent Events	3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events that occurred after March 31, 2026 through the date the condensed consolidated financial statements were issued (May 11, 2026). Except as disclosed below, the Company did not identify any subsequent events that would require recognition or disclosure in the condensed consolidated financial statements. Entry into Stock Purchase Agreement with Allen Family Digital, LLC On May 11, 2026, BuzzFeed, Inc. entered into a Stock Purchase Agreement (the “Agreement”) with Allen Family Digital, LLC (“Investor”), pursuant to which the Company agreed to sell to the Investor, and the Investor agreed to purchase from the Company, 40,000,000 shares (the “Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Transaction”). The aggregate consideration of $3.00 per share payable by the Investor is comprised of (i) $20.0 million in cash to be paid to the Company at the closing of the Transaction, and (ii) a five-year secured promissory note in the principal amount of $100.0 million (the “Promissory Note”) to be issued to the Company at the closing of the Transaction. The Promissory Note bears interest at a rate of 5% per annum, with interest payable semi-annually on the last business day of each June and December. The Promissory Note matures on the fifth anniversary of the Closing Date (as defined in the Agreement). The Promissory Note is secured by a first priority security interest in 33.3 million of the Shares and the Company understands that Investor currently holds no assets other than the Shares. Immediately prior to the execution of the Agreement, Jonah Peretti, BuzzFeed’s Founder and CEO, notified the Company of his intention to convert all of his outstanding shares of Class B common stock (1,309,354 as of May 5, 2026) into Class A common stock, which will leave approximately 33,355 shares of Class B common stock outstanding. This will result in the Investor owning approximately 52% of the outstanding Class A common stock, which will result in the Investor controlling the Company. In connection with the execution of the Agreement, the Company, the Investor, and Jonah Peretti, LLC entered into a Director Appointment Agreement (the “Director Appointment Agreement”), pursuant to which, effective as of the closing of the Transaction, the Company’s board of directors will be expanded from four to eight directors until the Company’s 2026 annual meeting (the “2026 Annual Meeting”) after which time the Company’s board of directors will be expanded from eight to nine directors. Prior to the 2026 Annual Meeting, pursuant to the Director Appointment Agreement, the Investor will have the right to appoint five of the eight members of the Company’s board of directors. Following the 2026 Annual Meeting and the expansion of the Company’s board of directors from eight to nine members, pursuant to the Director Appointment Agreement, (A) the Investor will have the right to appoint (i) six directors provided the Investor beneficially owns more than 50% of the Company’s then-outstanding common stock and (ii) a majority of the directors provided the Investor beneficially owns less than 40% but equal to or more than 20% of the Company’s then-outstanding common stock and (B) Jonah Peretti, LLC will have the right to appoint one director as long as he owns a specified amount of the Company’s then-outstanding common stock. On May 11, 2026, Nasdaq approved an exception to Nasdaq Listing Rule 5635 (Shareholder Approval) and Nasdaq Listing Rule 5640 (Voting Rights) in connection with the issuance and sale of the Shares and the execution of the Director Appointment Agreement. The Transaction is expected to close prior to the end of May 2026, but no earlier than 10 days after the Company’s shareholders are notified of the Transaction in accordance with Nasdaq Rule 5635. Announcement of CEO Transition Plan and Proposed Election of Officers On May 11, 2026, Jonah Peretti, BuzzFeed’s Founder and CEO, announced his intention to transition from his role as CEO of the Company, with Byron Allen named as his successor. Mr. Allen is expected to assume the role of Chief Executive Officer of BuzzFeed, Inc. in the coming weeks, and Mr. Peretti is expected to transition to a new role as President of BuzzFeed AI. Mr. Peretti will also continue to serve as a director of the Company. Resignation of Director In connection with the Transaction, Gregory Coleman resigned from the Board and the Audit Committee, the Compensation Committee and the Nominating, Corporate Governance, and Corporate Responsibility Committee of the Board on May 11, 2026, effective as of the Closing Date. Gregory Coleman’s resignation was not due to any disagreement with the Company or any matter relating to the Company's operations, policies, or practices. Amendment No. 4 to Credit Agreement On May 7, 2026, the Company entered into Amendment No. 4 to Credit Agreement (the “Fourth Amended Credit Agreement,” as amended, supplemented, or otherwise modified from time to time prior to the Fourth Amended Credit Agreement, the “Credit Agreement”), which provided for an extension of the $5.0 million due under the Credit Agreement from April 30, 2026 to May 18, 2026. Additionally, the Fourth Amended Credit Agreement establishes certain incremental mandatory prepayments, whereby the Company is required to prepay any aggregate outstanding principal amounts of any Overadvances (as defined in the Credit Agreement) upon the occurrence of certain events, including from the sale of specified assets or the issuance of any equity interests, subject to the Company retaining liquidity of $7.5 million. The Company will incur a debt modification fee of approximately $0.5 million in connection with the Fourth Amended Credit Agreement, which will be payable only upon the occurrence of certain events. Contemplated Separation of BuzzFeed Studios, Inc. On May 11, 2026, the Company announced a strategic plan to potentially separate its studio (including vertical micro-dramas, animation, digital video, and premium studio including feature films) and Tasty business units into a standalone, independent entity, BuzzFeed Studios, Inc., to attract new investors. The Company is in the preliminary stages of evaluating the structure and timing of the transaction. As of May 11, 2026, no definitive agreements have been executed in connection with the proposed separation. There can be no assurance as to the specific structure of this potential reorganization, the timing of its implementation, or whether this evaluation will result in a sale, a strategic partnership, or any other transaction, or to what extent such a transaction would have on our condensed consolidated financial statements. Strategic Review and Restructuring Initiatives Subsequent to March 31, 2026, the Company initiated a comprehensive review of its strategic direction and cost structure to address near-term liquidity requirements and improve long-term operational efficiency. As these initiatives are in the preliminary stages, the Company has not yet finalized a definitive timeline or the specific scope of these actions. As such, the Company is unable to provide a good-faith estimate of the range of any restructuring charges, or the timing of any such plan or charge.

The Company has evaluated subsequent events that occurred after March 31, 2026 through the date the condensed consolidated financial statements were issued (May 11, 2026). Except as disclosed below, the Company did not identify any subsequent events that would require recognition or disclosure in the condensed consolidated financial statements.

On May 11, 2026, BuzzFeed, Inc. entered into a Stock Purchase Agreement (the “Agreement”) with Allen Family Digital, LLC (“Investor”), pursuant to which the Company agreed to sell to the Investor, and the Investor agreed to purchase from the Company, 40,000,000 shares (the “Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Transaction”). The aggregate consideration of $3.00 per share payable by the Investor is comprised of (i) $20.0 million in cash to be paid to the Company at the closing of the Transaction, and (ii) a five-year secured promissory note in the principal amount of $100.0 million (the “Promissory Note”) to be issued to the Company at the closing of the Transaction. The Promissory Note bears interest at a rate of 5% per annum, with interest payable semi-annually on the last business day of each June and December. The Promissory Note matures on the fifth anniversary of the Closing Date (as defined in the Agreement). The Promissory Note is secured by a first priority security interest in 33.3 million of the Shares and the Company understands that Investor currently holds no assets other than the Shares.

Immediately prior to the execution of the Agreement, Jonah Peretti, BuzzFeed’s Founder and CEO, notified the Company of his intention to convert all of his outstanding shares of Class B common stock (1,309,354 as of May 5, 2026) into Class A common stock, which will leave approximately 33,355 shares of Class B common stock outstanding. This will result in the Investor owning approximately 52% of the outstanding Class A common stock, which will result in the Investor controlling the Company.

In connection with the execution of the Agreement, the Company, the Investor, and Jonah Peretti, LLC entered into a Director Appointment Agreement (the “Director Appointment Agreement”), pursuant to which, effective as of the closing of the Transaction, the Company’s board of directors will be expanded from four to eight directors until the Company’s 2026 annual meeting (the “2026 Annual Meeting”) after which time the Company’s board of directors will be expanded from eight to nine directors. Prior to the 2026 Annual Meeting, pursuant to the Director Appointment Agreement, the

Investor will have the right to appoint five of the eight members of the Company’s board of directors. Following the 2026 Annual Meeting and the expansion of the Company’s board of directors from eight to nine members, pursuant to the Director Appointment Agreement, (A) the Investor will have the right to appoint (i) six directors provided the Investor beneficially owns more than 50% of the Company’s then-outstanding common stock and (ii) a majority of the directors provided the Investor beneficially owns less than 40% but equal to or more than 20% of the Company’s then-outstanding common stock and (B) Jonah Peretti, LLC will have the right to appoint one director as long as he owns a specified amount of the Company’s then-outstanding common stock.

On May 11, 2026, Nasdaq approved an exception to Nasdaq Listing Rule 5635 (Shareholder Approval) and Nasdaq Listing Rule 5640 (Voting Rights) in connection with the issuance and sale of the Shares and the execution of the Director Appointment Agreement.

On May 11, 2026, Jonah Peretti, BuzzFeed’s Founder and CEO, announced his intention to transition from his role as CEO of the Company, with Byron Allen named as his successor. Mr. Allen is expected to assume the role of Chief Executive Officer of BuzzFeed, Inc. in the coming weeks, and Mr. Peretti is expected to transition to a new role as President of BuzzFeed AI. Mr. Peretti will also continue to serve as a director of the Company.

In connection with the Transaction, Gregory Coleman resigned from the Board and the Audit Committee, the Compensation Committee and the Nominating, Corporate Governance, and Corporate Responsibility Committee of the Board on May 11, 2026, effective as of the Closing Date. Gregory Coleman’s resignation was not due to any disagreement with the Company or any matter relating to the Company's operations, policies, or practices.

On May 7, 2026, the Company entered into Amendment No. 4 to Credit Agreement (the “Fourth Amended Credit Agreement,” as amended, supplemented, or otherwise modified from time to time prior to the Fourth Amended Credit Agreement, the “Credit Agreement”), which provided for an extension of the $5.0 million due under the Credit Agreement from April 30, 2026 to May 18, 2026. Additionally, the Fourth Amended Credit Agreement establishes certain incremental mandatory prepayments, whereby the Company is required to prepay any aggregate outstanding principal amounts of any Overadvances (as defined in the Credit Agreement) upon the occurrence of certain events, including from the sale of specified assets or the issuance of any equity interests, subject to the Company retaining liquidity of $7.5 million.

On May 11, 2026, the Company announced a strategic plan to potentially separate its studio (including vertical micro-dramas, animation, digital video, and premium studio including feature films) and Tasty business units into a standalone, independent entity, BuzzFeed Studios, Inc., to attract new investors. The Company is in the preliminary stages of evaluating the structure and timing of the transaction. As of May 11, 2026, no definitive agreements have been executed in connection with the proposed separation. There can be no assurance as to the specific structure of this potential reorganization, the timing of its implementation, or whether this evaluation will result in a sale, a strategic partnership, or any other transaction, or to what extent such a transaction would have on our condensed consolidated financial statements.