BuzzFeed’s Peretti Is Hoping to Raise $150 Million From Sale of Complex Assets

For months, BuzzFeed stock has traded so low that the Nasdaq recently threatened the company with delisting. With BuzzFeed’s effort to sell Complex Networks, a group of websites targeted at people in hip-hop, fashion and sports, CEO Jonah Peretti has the chance to transform Wall Street’s view of the company.

Peretti is asking $150 million for a group of Complex assets, including its annual ComplexCon festival and its video series such as “Sneaker Shopping,” according to people familiar with the situation. If he gets that much, BuzzFeed could pay off its expensive debt load, which the company could be forced to repay as early as December of next year. That would allow Peretti to make the pitch to Wall Street that, as a debt-free company with a collection of money-making businesses, BuzzFeed shares should trade much higher. The shares are currently hovering around 50 cents, giving BuzzFeed a market capitalization of just $70 million.