Demand Media Adds $100 Million More Funding; Total Comes To $320 Million
By Rafat Ali - Tue 25 Sep 2007 02:56 PM PST
Demand Media, the Santa Monica, CA-based online domain-based media company and aggregator has raised another big round: this time a $100 million in its third round of funding, reports PEHub. The round was led by Goldman Sachs, with return participation coming from 3i Group, Generation Partners, Oak Investment Partners and Spectrum Equity Investors.
The company has now raised $320 million since being launched 18 months ago, including earlier rounds of $120 million and $100 million. It was founded by CEO Richard Rosenblatt, former head of MySpace parent company Intermix Media. Its basic strategy is to buy high-traffic sites and domain names, add content and other Web 2.0 features to it, and then use automated ad methods to monetize them. Early on it bought eNom and BulkRegister registrars, and since then has bought sites such as eHow, Hillclimb Media, AnswerBag, and others.
It is competing against the likes of Name Media, formed by former Primedia (NYSE: PRM)/IDG CEO Kelly Conlin, which has also raised some big rounds.
Posted in: VC+M&A
