The Fall of BuzzFeed News

From CNN’s Reliable Sources:

It is the end of an era.

BuzzFeed News, the digital news outlet that harnessed the power of social media to take the internet by storm, is shuttering, as we first reported Thursday. The move marks the end of the digital media upstart frenzy rooted in the late aughts that enlisted a new generation of young journalists and once threatened entrenched legacy news organizations.

The outlet once inspired tremendous jealousy from the likes of CNN and The New York Times. Flush with venture capital cash, it poached top journalists at establishment outlets, opened bureaus across the world, and touted its ability to send stories viral across the web.