BuzzFeed cuts projected revenue by half after missing 2015 financial target

The digital media company is 'very comfortable', it told the Financial Times, despite a report that internal financial targets were missed by over $80m

BuzzFeed missed internal financial targets in 2015 and had to substantially cut its projected revenue by about half according to a report published by the Financial Times on Tuesday.

According to the FT, the company has been forced to cut its 2016 revenue target from $500m to $250m after missing its 2015 target by more than $80m. The company reportedly projected revenues of $250m in 2015 but generated less than $170m.