Friday, October 29, 2010
Demand Media Sets IPO Offering Size, Boosts Traffic
Santa Monica-based Demand Media is inching closer to its IPO debut, saying in an updated S-1 this morning that it plans to offer 7.5 million shares of its common stock in its IPO. The firm, which has not yet set a pricing range, has applied to list on the NYSE as DMD. Demand said in the filing it plans to sell 4,500,000 shares of the stock in the offering, with selling stockholders selling an additional 3,000,000 shares. In addition to the offering size, Demand Media said it is now reaching 94 million unique visitors and 621 million page views globally, as of September 30th, up from the 86 million uniques and 550 million pageviews it was seeing as of June 30th. The firm also said it now has over 13,000 content creators working for the firm, creating articles for the company. Demand Media, which is headed by former MySpace chairman Richard Rosenblatt, operates such sites as eHow and LiveStrong.com.