Thursday, April 15, 2010
Report: Demand Selects Goldman Sachs For IPO Effort
Los Angeles-based Demand Media, the online content publishing firm run by Richard Rosenblatt, has reportedly selected Goldman Sachs to run its IPO effort, according to a report this evening from the Financial Times. The report says that Demand Media has hired Goldman Sachs to explore an initial public offering for the firm. Demand Media has been rumored to be looking for an IPO for months, and Richard Rosenblatt has not been shy about the firm's interest in an IPO. Rosenblatt said in January at the Twiistup conference that the firm has over $200M in annual revenues, and has been looking at its options for months. The firm has so far raised over $355M in funding--including some from Goldman Sachs.