Demand Media Signs The Lance Armstrong Foundation

Santa Monica-based Demand Media and the Lance Armstrong Foundation, the cancer survivor organization founded by cyclist Lance Armstrong, said this morning that they are working together on launching a new web site, The Lance Armstrong Foundation will use Demand Media's social media tools and expertise for the site. Demand Media said that the Lance Armstrong Foundation and Lance Armstrong will become shareholders in Demand Media. However, according to a spokesman for Demand Media, Lance Armstrong and LAF did not make an investment in the firm, but was granted stock by the firm. Lance Armstrong will become a strategic advisor to Demand Media. According to the firms, the site will launch in Q2. Demand Media is headed by former MySpace Chairman Richard Rosenblatt.