<p>BuzzFeed's Marcela Martin has announced her intention to resign as president effective January 12 to pursue other opportunities, the digital media firm said on Friday.</p>.<p>The company is unlikely to look for a replacement as the president's responsibilities will be absorbed by the CEO and other executives.</p>.<p>Martin's departure, which comes closely after the exit of CFO Felicia DellaFortuna in November, was not due to any disagreement with the company, BuzzFeed said in a regulatory filing.</p>.BuzzFeed gets $ 50m cash infusion, to enter India.<p>BuzzFeed, which shuttered its news unit in April, was founded in 2006 by Jonah Peretti and John Johnson, and went public in 2021 through a blank-check merger.</p>.<p>The news division of BuzzFeed was once viewed as a serious challenger to legacy media companies and won a Pulitzer Prize in 2021 for coverage of China's mass detention of Muslims, but it failed to find a working business model and was a consistent money loser.</p>.<p>Like other digital media outlets, BuzzFeed's reliance on advertising made it susceptible to downturns as marketers shifted to TikTok and other social media platforms.</p>.<p>Ozy Media sued BuzzFeed along with another news media outlet Semafor and its founder Ben Smith last week for allegedly stealing trade secrets from the now-shuttered US media and entertainment company.</p>
<p>BuzzFeed's Marcela Martin has announced her intention to resign as president effective January 12 to pursue other opportunities, the digital media firm said on Friday.</p>.<p>The company is unlikely to look for a replacement as the president's responsibilities will be absorbed by the CEO and other executives.</p>.<p>Martin's departure, which comes closely after the exit of CFO Felicia DellaFortuna in November, was not due to any disagreement with the company, BuzzFeed said in a regulatory filing.</p>.BuzzFeed gets $ 50m cash infusion, to enter India.<p>BuzzFeed, which shuttered its news unit in April, was founded in 2006 by Jonah Peretti and John Johnson, and went public in 2021 through a blank-check merger.</p>.<p>The news division of BuzzFeed was once viewed as a serious challenger to legacy media companies and won a Pulitzer Prize in 2021 for coverage of China's mass detention of Muslims, but it failed to find a working business model and was a consistent money loser.</p>.<p>Like other digital media outlets, BuzzFeed's reliance on advertising made it susceptible to downturns as marketers shifted to TikTok and other social media platforms.</p>.<p>Ozy Media sued BuzzFeed along with another news media outlet Semafor and its founder Ben Smith last week for allegedly stealing trade secrets from the now-shuttered US media and entertainment company.</p>