Hot Ones is expanding its reach.

After more than a year searching for a buyer for First We Feast, the entity behind the popular digital talk show, BuzzFeed has secured funding to gain independence in a deal estimated to be worth eight figures. This new venture, backed by a group of investors led by founder Chris Schonberger and Hot Ones host Sean Evans, along with Crooked Media, Mythical Entertainment, Soros Fund Management, and others, will allow First We Feast to function as its own media company and content studio.

First We Feast, initially a branch of Complex Media, became part of BuzzFeed in 2021. Once valued at $1.5 billion post-IPO, BuzzFeed’s market value has since dropped to $169 million, prompting efforts to stabilize its finances and seek a buyer for First We Feast, which was previously listed for approximately $70 million. Instead of joining another large corporation, the brand will now establish a new ownership model focused on developing existing and new content franchises, as well as pursuing future partnerships and acquisitions.

First We Feast will maintain its current team and leadership, with founder and Hot Ones creator Schonberger stepping into the CEO role and Evans taking on the position of chief creative officer. Evans will continue to interview celebrities while they tackle spicy chicken wings.

“What started as a simple food blog has transformed into a dynamic multi-platform brand, garnering over four billion views on YouTube, receiving multiple Daytime Emmy nominations, and winning James Beard Awards,” Schonberger stated. “With this new investment, we are set to explore exciting avenues — including new platforms, live events, and talent recruitment — solidifying First We Feast as the go-to destination for pop culture enthusiasts. I’m excited to lead this next phase as we keep innovating and crafting memorable experiences for our audience.”

Regarding live events, discussions between Hot Ones and Netflix for live shows took place as recently as September. The show’s immense popularity is crucial for First We Feast, as it has become a prominent feature on many A-list promotional itineraries and significantly contributes to the channel’s over 14 million YouTube subscribers, accumulating four billion views since its inception.

“As we near the 10th anniversary of Hot Ones next season, I’m continually impressed by the enthusiasm and commitment of our fans, who have made this journey remarkable,” Evans expressed. “Hot Ones is not just a successful show; it’s an experience — a cultural phenomenon that audiences want to engage with, whether they’re watching, sampling the sauces, or taking on the challenge with friends. I’m eager to keep hosting ‘the show with hot questions, and even hotter wings’ for many years ahead. The future looks spicy, and I’m excited to see what lies ahead.”

The “experience” Evans refers to is not an exaggeration. Hot Ones has its own line of hot sauces and a series of collaborations with brands like McDonald’s, Stella Artois, and Panda Express.

First We Feast will mark the beginning of its new chapter with the Annual Hot Ones Holiday Extravaganza on December 19, followed by the launch of its 26th season on January 23.

Person: Chris Schonberger, Sean Evans
Company Names: BuzzFeed, First We Feast, Complex Media, Crooked Media, Mythical Entertainment, Soros Fund Management, Netflix, McDonald’s, Stella Artois, Panda Express
Titles: Hot Ones, First We Feast

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