TROUBLES: BUZZFEED Going Public — Employees Walking Out in Protest…

BuzzFeed shareholders will vote today to take the company public via a merger with a special-purpose-acquisition company, or SPAC. The deal is expected to close Friday.

By Monday, the company could start trading under the stock ticker BZFD. Shares are expected to trade for around $10. Jonah Peretti, BuzzFeed’s CEO, has already sent out invitations for the ringing of the bell on the floor of NASDAQ and for a celebratory dinner at the Indian restaurant Sona, where he will perhaps chow down on $38 green pepper halibut and think about the some $64 million in stock options he holds and the fact that he will retain control of the company he founded. But not everyone is in the mood to uncork Champagne.

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BuzzFeed News employees tell New York that its 61-member unit is (digitally) walking off the job this morning for a 24-hour period, even as shareholders get ready to vote. “There is no future of BuzzFeed without the workers, no product for them to take public,” says Addy Baird, a reporter and chair of…


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