Buzzfeed buzzed


"In an official statement, the company glumly hinted at the possibility of going under sooner rather than later, writing that 'there is substantial doubt about the Company’s ability to continue as a going concern.'

"The company’s chief financial officer, Matt Omer, admitted that the company was having 'strategic conversations' about relieving its liquidity issues.

"'Three years ago we had over $180 million in debt —we’ve reduced that by more than 65 percent,' he said. 'While we’ve significantly reduced operating costs and real estate obligations, we’re still facing legacy commitments that are burdening the business'."

"The brutal reality check seemingly hasn’t put Peretti off from pursuing AI, though. He now says he’s hoping to bring new AI apps to the market this year."


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