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Are You a Chamath or a Shaq? Take This SPAC Quiz to Find Out

In honor of BuzzFeed's SPAC bargain, exam your knowledge with this BuzzFeed-inspired quiz about the trendiest alternative to an IPO.

December three, 2021, 8:00 AM UTC

BuzzFeed Inc. is going public with the help of this decade's trendiest financial instrument. No, not an NFT. The online publisher, known for its lighthearted lists and quizzes, is expected to start trading next week later on merging with a special purpose acquisition company.

Investors have kicked in more than $190 billion to SPACs since last year, according to information compiled by Bloomberg. Shaquille O'Neal, Peyton Manning, Jay-Z and Donald Trump each have their own.

SPACs work like a blank cheque. Someone, often a well-known investor or celebrity, creates a shell company and sells shares to the public with the promise of finding an exciting private business organisation to merge with. Shareholders of the SPAC can ask for their money back if they don't similar the target. What's leftover goes to the now-public startup.

In BuzzFeed'south case, the media company will go at least $166 million later on merging with a SPAC called 890 fifth Avenue Partners Inc. That's less than half of what the company initially expected, due a flood of refund requests from shareholders of the SPAC. A matrimony-organized walkout of BuzzFeed staff this week besides casts a pall over the bargain.

The stock volition exist listed on the Nasdaq under the ticker BZFD. The deal, valued at $1.5 billion, gives BuzzFeed's venture capitalists a chance to finally cash in. Information technology volition also test Wall Street'due south appetite for digital media, an industry that has struggled to compete in online advertising with tech giants like Facebook and Google.

Despite the hype effectually SPACs, the results are unimpressive. They distinctly underperform traditional initial public offerings, according to Bloomberg reporting. SPACs are also prone to securities infractions, and U.Southward. regulators have issued warnings to public investors.

But as more 400 SPACs search for companies to take public, the deals aren't going away. So we created a quiz, inspired past the type BuzzFeed pioneered, to exam your cognition of SPACs. Find out if you're a Chamath Palihapitiya or a Charlie Munger.

Which musician helped take California'south largest cannabis conglomerate public through a SPAC and was named as the company's primary visionary officer?

Which automaker went public through a SPAC, was accused of rolling a motorless truck down a hill for a promotional video and saw its founder sued by the SEC for fraud?

Which digital media company backed by the broadcaster of 90 Day Fiance prepare a SPAC of its own to assistance itself—or possibly a rival—go public?

Which fitness company went public through Shaquille O'Neal's SPAC and lost more than than half of its value iii months afterwards information technology started trading?

Shareholders of a SPAC associated with which celebrity asked for more than one-half of their money dorsum after learning the visitor would merge with a 3D printing business?

More than 99% of companies in the Russell 1000 index have at to the lowest degree one female board member. What percent of SPAC boards have at least one woman?

Which media-focused SPAC is named after the fictional mansion from the Avengers movie and besides received a noncompliance notice from the SEC for failing to file its quarterly study on time?

In the SPAC merger between Digital World Acquisition and old President Donald Trump'southward social media visitor Truth Social, which 2 events would be considered "material confusing" under terms of the agreement?

Choose two

Which one of these sports stars does not take a SPAC?

Which digital media company was co-created by a founder of the white nationalist group the Proud Boys and unsuccessfully explored a SPAC merger in 2021?

Which Wall Street billionaire was sued over his SPAC, offered to refund investors' coin and suggested they instead buy a pale in something he calls a SPARC?

Which maker of sports-themed trading cards, stickers and other merchandise held talks with a blank-cheque visitor affiliated with baseball game great Alex Rodriguez before the deal vicious autonomously?

Which two former members of the U.S. Firm of Representatives have SPACs?

Cull ii

Which billionaire raised money for a SPAC that merged with 23andMe and too used a SPAC to take i of his own companies public?

Which media company is doing a SPAC deal and runs the following headlines on its website: "9 Reasons Why Having Sexual activity In Infinite Would Be Gross," "I Bet You Can't Respond All 50 Of These 'Friends' Questions Correctly," and, "What Kind Of Dog Are You?"

( Corrects spelling of Icahn'south proper noun in the 11th question. )