BuzzFeed Inc. witnessed a significant surge in its shares recently, and the catalyst behind this boost is none other than entrepreneur and former U.S. presidential candidate Vivek Ramaswamy. With a 7.7% stake in the online media company, Ramaswamy’s investment is valued at approximately $6.81 million based on Tuesday’s closing share price. His move has positioned him as the fourth-largest shareholder in BuzzFeed, trailing only Comcast Corp., NEA Management Co., and Hearst Communications Inc. But what does this mean for the future of BuzzFeed?

Ramaswamy, a Republican who ended his presidential candidacy in January and threw his support behind Donald Trump, aims to engage in a dialogue with BuzzFeed’s board and management. His goal? To explore operational and strategic opportunities that maximize shareholder value. This includes advocating for a potential shift in the company’s strategy.

BuzzFeed, known for its quirky quizzes, “best of” lists, and pop culture articles, has faced challenges in recent years. Cutbacks in internet advertising have impacted its revenue, and the company’s stock performance has been volatile since its 2021 initial public offering (IPO). The shares have declined by approximately 92% since then.

Last year, BuzzFeed made the tough decision to eliminate its news division as part of broader layoffs. In its most recent quarterly results, the company projected a decline of 21% to 30% in revenue for the current quarter, following an 18% drop in sales during the first three months.

Vivek Ramaswamy founded pharmaceutical company Roivant Sciences Ltd. in 2014 and co-founded Strive Asset Management in 2022. While he stepped away from the asset management firm last year to focus on his presidential run, he remains committed to making an impact beyond politics. His interest in BuzzFeed raises questions about the company’s direction and potential for revitalization.

As Ramaswamy takes a seat at the table, all eyes are on BuzzFeed. Will the company embrace change, adapt its strategy, and regain its footing? Only time will tell. For now, investors and media enthusiasts alike are eagerly awaiting the outcome of the dialogue between Ramaswamy and BuzzFeed’s leadership.