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    After layoffs, BuzzFeed CEO focuses on growing revenue, diversifying

    by Wendy Lee, Los Angeles Times Apr 29, 2019 6 minutes

    LOS ANGELES - "Utopia" is the name of the room that BuzzFeed Chief Executive Jonah Peretti uses as his L.A. office, but the last few months have been anything but that. His New York-based start-up, once seen as a potential savior for journalism, cut roughly 220 staffers this year, the latest sign of turmoil in the digital media sector.

    BuzzFeed, which generated more than $300 million in sales last year, is unprofitable. But Peretti, a founding shareholder, plans to take the company to profitability later this year as it continues to balance hard news and lighthearted memes, mixed in with advertising and marketing.

    There are challenges ahead for the company, which has raised $497 million from investors including NBCUniversal.

    Facebook and Google, which run platforms where BuzzFeed and other digital media companies distribute their content, could potentially face government regulation, which could affect the algorithms and content on their platforms. BuzzFeed's news division is also seeking unionization.

    Peretti, 45, spoke on Thursday from BuzzFeed's

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