EX-99.1 2 tm2128839d1_99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

 
 

Business Combination Presen t a t i o n 890 BuzzFeed C ompa ny In f o rma t i o n

 
 

 
 

Securities Act Securit i es

 
 

Today’s Agenda

 
 

Introduction

 
 

Today’s Presenters

 
 

About BuzzFeed

 
 

Brands that are Defining Culture

 
 

Leading Platform for Digital Content and Commerce Source: Management, company estimates. Financials are Pro Forma for Complex, excludes go90. (1) Comscore, August 2020 when compared to Core competitor set. Core competitor set includes Vox Media, Group Nine Media, Complex, POPSUGAR Media, Vice Media, REFINERY29.com. (2) Nielsen Digital Content Ratings, Monthly Data October 2020. (3) Q1 2020 BuzzFeed Brand Health Study (U.S. P13 - 54). • • •

 
 

Expansion and Diversification of Business Model Note: Adj. EBITDA excludes stock - based compensation and other net income/expense. Revenue growth rate and Adj. EBITDA include Complex, excludes go90. (1) Deal signed in March 2021 and expected to close in connection with the proposed transaction. (2) Deal signed in November 2020 and closed in February 2021.

 
 

Highly Attractive Acquisition of Complex • • • • Source: Complex Management and publicly available information. (1) Complex materials and reports. (2) Represents 2020 O&O original output and published content, both posts and videos. (3) Comscore, August 2021 and Facebook API. (4) Refers to Black/African - American males age 18 - 34. Comscore, June 2021. Research offering proprietary data Youth consultancy offering E c o m m er c e destination Other Key Initiatives • • •

 
 

Video & Social High Quality Content eC o m m erce Source: Company filings; S&P Global Market Intelligence Global Advertising Forecasts Jun 2020; eMarketer Oct 2020; Wyzowl Video Marketing Statistics 2020 report; Wall Street research. Aligned with Massive Secular Trends

 
 

Foundations for Growth

 
 

Portfolio of Premium and Emerging Digital Content Brands Source: Comscore, Aug 2021, Nielsen Digital Content Ratings, Monthly Data, Oct 2020, Complex materials and reports, BuzzFeed internal survey conducted via Qualtrics, Apr 2020, BuzzFeedNews.com, YouTube.com, Multi - Platform, Key Measures, Oct 2020, Tubular Intelligence, Oct 2020, Digital Media Brand Perceptions Study (Q3 2018), U.S. P13 - 54, ComscoreMedia Metrix, Key Measures, P13 - 24, Key Measures, A25 - 34. A Leading News Brand for Young Readers A Leading Digital News Outlet A Leading Media Company for the Modern World A Leading Global Food Network Entertainment / Culture News Food A Leading Media Outlet for Young Readers Emerging Brands (Beauty) (Travel) (Health) (Home) (Family)

 
 

Machine Learning Powers a Scaled Tech Stack Source: BuzzFeed Client Event Tracking Data, August 2021.

 
 

Growth Flywheel is Highly Scalable Across Platforms 1 3 4 2

 
 

High Growth Commerce Opportunity BuzzFeed editorial posts inspire travel Audience clicks travel and content ads with links Audience transacts directly with hotel OTA

 
 

Source: Tubular Intelligence, Oct 2020, BuzzFeed Looker Data, NiemanLab, Jan 2017, Nielsen Digital Content Ratings, Monthly Data, Aug 2020. Facebook Followers BuzzFeed Formats Applied to Cooking E x pe r i m e nta t ion & Social Media Feedback / Data Loop Audience E x pans ion Iterations for Expansion & Deve l op me n t Multiple Mon e t i za ti o n Streams Powering Organic Growth of Brands

 
 

Source: Comscore, Feb 2020, Comscore, Aug 2021, Complex materials and reports. Monthly Minutes and Minutes Spent by Average Unique Visitor represent total audience. • • • • • Key Stats HuffPost Acquisition Rationale • • • • Key Stats Complex Acquisition Rationale     Proven Consolidation Platform

 
 

Consolidation Strategy Driving Accretive Results

 
 

Our Scaled Model has Powered Network Effects Creating Competitive Barriers and Driving Growth (1) Nielsen Digital Content Ratings, Monthly Data, Oct 2020. (2) Represents estimated total number of hours spent on our O&O properties, on our content on YouTube as reported by ComScore, and on our content on Facebook, as reported by Facebook. (3) Deal signed in March 2021 and expected to close in connection with the proposed transaction. (4) See slide 25, which show the actual revenue mix for 1H’20A and 1H’21A.

 
 

Financial Highlights

 
 

Note: FY2021E and beyond includes HuffPost. Pro Forma figures include Complex, excludes go90 revenue of $55M, $25M, and $7M in 2019A, 2020A, and 2021E, respectively. Accelerating Growth Profile with Continued Diversification % YoY Growth 1H’21A YoY Growth +45% (4%) +92%

 
 

Note: Figures represent estimated total number of hours spent on our O&O properties, and on our content on YouTube as reported by ComScore, and on our content on Facebook, as reported by Facebook. Time Spent % YoY Growth

 
 

Profitability At Scale Note: Dollars in millions. Pro Forma figures include Complex, excludes go90 Adj. EBITDA of $29M, $14M, and $4M in 2019A, 2020A, and 2021E, respectively. (1) Please refer to Adj. EBITDA reconciliation on p.34. (2) Excludes D&A, SBC, Tax and other one - time non - recurring expenses. Adj. EBITDA Margin (3% ) 4% 11% 18%

 
 

Note: 2020A excludes HuffPost revenue and Adj. EBITDA. Pro Forma includes Complex, excludes go90 revenue of $16M, $9M, $0M and $7M and Adj. EBITDA of $6M, $8M, $0M, and $4M in 1H’20A, 2H’20A, 1H’21A, and 2H’21A, respectively. Values subject to rounding. (1) Please refer to Adj. EBITDA reconciliation on p.34. Adj. EBITDA Margin Adj. EBITDA Margin (13%) 15% 4% (2 %) 20% 11% 2H’21 Financial Outlook % of FY 2020A Revenue 39% 61% % of FY 2021E Revenue 41% 59% % YoY Growth

 
 

 
 

Appendix

 
 

35 - 38% 23 - 24% 19 - 23% 18 - 20% Note: Figures include Complex, exclude go90 revenue. Revenue ranges are based on quarterly revenue mix from 2019A, 2020A, and 2021E. Revenue Seasonality

 
 

BuzzFeed Standalone Statement of Operations ($ in millions) Note: Values subject to rounding. Figures exclude Complex. (1) Excludes minority interest adjustment relating to noncontrolling interests.

 
 

BuzzFeed Standalone Net Income to Adj. EBITDA Reconciliation ($ in millions) Note: Values subject to rounding. Figures exclude Complex. (1) Excludes minority interest adjustment relating to noncontrolling interests.

 
 

Pro Forma BuzzFeed GAAP / Non - GAAP Reconciliation (Adj. EBITDA) ($ in millions) Source: Publicly available sources and Complex management presentation. Note: Values subject to rounding. Pro Forma includes Complex. (1) Excludes minority interest adjustment relating to noncontrolling interests.