Report: BuzzFeed falls short of 2015 revenue target

BuzzFeed, the online news site known for viral stories and lists, missed its revenue target for 2015 and has cut its internal estimate for 2016 by about half, according to the Financial Times.

BuzzFeed had estimated generating about $250 million in revenue last year, but generated less than $170 million, the FT said, citing three unnamed sources. Its revenue target for this year has been slashed to $250 million from $500 million, it said.

“Much of the information (in the FT article) is significantly incorrect,” BuzzFeed said in a statement. “We are very pleased with where BuzzFeed is today and where it will be tomorrow. We are very comfortable where the digital content world is going and think we are well positioned.”

BuzzFeed didn’t provide its own figures.

In August, BuzzFeed's valuation was doubled to $1.5 billion after Comcast Corp.’s NBCUniversal invested $200 million.