Wednesday, January 12, 2011
Demand Media Sets IPO Pricing Range
Santa Monica-based Demand Media, the online publishing firm headed by Richard Rosenblatt, said today in an S-1 filing that it expects its IPO to be between $14.00 and $16.00 per share. The firm plans to offer 7,500,000 shares of its stock in its IPO, which has been approved for listing on the New York Stock Exchange as DMD. Demand Media's IPO efforts have been one of the closest watched activities in the Southern California technology industry, as an indicator of the IPO prospects for other technology companies here. Demand Media's IPO is being underwritten by UBS Investment Bank, Allen & Company LLC, Jefferies & Company, Stifel Nicolaus Weisel, RBC Capital Markets, and Pacific Crest Securities. Demand Media runs such sites as LiveStrong and eHow, along with a network of other media and content focused sites.