The disastrous reception to BuzzFeed’s US stock market debut earlier this month didn’t stop fellow digital publisher and LadBible owner LBG Media (LBG:AIM) from having a successful listing on the UK market on 15 December.

LBG Media priced its IPO (initial public offering) at 175p and its shares advanced to 195p in early trading on the first day of dealings. It raised £30 million in new money and may target acquisitions following the success of its 2018 purchase of UniLad. The company has also expressed an interest in disrupting traditional broadcasters as well as expanding into the US.

LadBible’s strategy is to create viral content via its website and social channels to secure advertising revenue. It also delivers branded content for organisations ranging from Pepsi Max to Cancer Research.

After an initial jump at its IPO, BuzzFeed’s shares were trading 39% lower after their first week of trading. Special purpose acquisition company 850 5th Avenue Partners had raised $287.5 million to buy a business, but investors accounting for 94% of the money pulled out when they discovered BuzzFeed was the target.

BuzzFeed’s revenue rose 27% during the first nine months of this year, but that pace decelerated to a 20% year-over-year advance for its latest quarter. Individuals spent 602,248 hours consuming BuzzFeed content through the first nine months of this year, a 10% increase over the same period a year earlier.

‹ Previous2021-12-16Next ›