Tuesday, August 18, 2009
Demand Media Invests In CoveritLive
Santa Monica-based Demand Media, the social media firm headed by former MySpace Chairman Richard Rosenblatt, said this morning that it has made a minority investment in Toronto-based CoveritLive. CoveritLive develops live blogging tools and related products for creating live, online events. Amount of the investment and other financial terms of the deal were not disclosed. Demand Media said that the investment is part of a strategic partnership with CoveritLive, whre Demand Media will market, resell, and integrate CoveritLive's offerings into its various properties.