Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2022

C Acquisition

Acquisitions and Dispositions

Schedule of fair value of consideration exchanged

Cash consideration(1)	$	197,966
Share consideration(2)		96,200
Total consideration	$	294,166

(1) — Includes the cash purchase price of $200.0 million adjusted for certain closing specified liabilities as specified in the C Acquisition Purchase Agreement.

(2) — Represents 10,000,000 shares of BuzzFeed Class A common stock at a price of $9.62 per share, which is based on the Company’s closing stock price for Class A common stock on the Closing Date.

Schedule of purchase price allocation for the assets acquired and liabilities assumed

			Measurement
			Period
	Preliminary		Adjustments	Updated Preliminary
Cash	$	2,881	—	$	2,881
Accounts receivable		22,581	11		22,592
Prepaid and other current assets		17,827	—		17,827
Property and equipment		332	(15)		317
Intangible assets		119,100	—		119,100
Goodwill		189,391	(831)		188,560
Accounts payable		(2,661)	—		(2,661)
Accrued expenses		(12,319)	486		(11,833)
Accrued compensation		(12,867)	349		(12,518)
Deferred revenue		(5,855)	—		(5,855)
Deferred tax liabilities		(22,776)	—		(22,776)
Other liabilities		(1,468)	—		(1,468)
Total consideration for Complex Networks	$	294,166	—	$	294,166

Schedule of estimated fair value of each of the identifiable intangible assets

		Weighted Average
	Asset Fair Value	Useful Life (Years)
Trademarks & tradenames	97,000	15
Customer relationships	17,000	4
Developed technology	5,100	3

Schedule of Company's pro forma combined revenues and net income

	Three Months Ended March 31,
	2021
Revenue	$	92,662
Net loss		(18,443)

HuffPost and Verizon Investment

Acquisitions and Dispositions

Schedule of fair value of consideration exchanged

Fair value of common stock issued(1)	$	24,064
Working capital adjustments		(490)
Total consideration	$	23,574

(1) – Represents 8,625,234 shares of Legacy BuzzFeed common stock issued at a value of $2.79 per share. The fair value per share was determined using Level 3 inputs using a combination of a market approach based on guideline public companies and an income approach based on estimated discounted cash flows.

Schedule of purchase price allocation for the assets acquired and liabilities assumed

			Measurement
			Period
	Preliminary		Adjustments		Final
Cash and cash equivalents	$	5,513	$	—	$	5,513
Accounts receivable		3,383		—		3,383
Prepaid and other current assets		611		—		611
Deferred tax assets		116		15		131
Property and equipment		620		—		620
Intangible assets		19,500		—		19,500
Goodwill		5,927		(437)		5,490
Accounts payable		(1,410)		—		(1,410)
Accrued expenses		(4,249)		—		(4,249)
Deferred tax liabilities		(4,251)		422		(3,829)
Other liabilities		(63)		—		(63)
Noncontrolling interests		(2,123)		—		(2,123)
Total consideration for HuffPost	$	23,574	$	—	$	23,574