Demand Media increases appetite for funding of 35M extra Cash
By Azam on March 25, 2008Demand Media is a hungry start up that is devouring cash with expansion and acquisitions which amassed total funding of $335. The recent 35M funding was reported by peHUB. Demand Media the company mentioned in previous post Next Generation Content is head by former MySpace chief executive Richard Rosenblatt. The company is moving more towards the “next-generation social media company” with recent Pluck acquisition.
Demand Media appetite for related acquisitions and media properties likely feed to feed the beat on its path into future. Earlier, Demad Media announced the acquisition of Pluck for 75M. Pluck was a sizable acquisition that was strategic in helping turn Demand Media into a destination with large network of media properties and domains 100,000 to feed as well. Pluck will give Demand Media a way to leverage the content on its own proprieties and Pluck partnerships in a larger network to combines with user generated content across the larger network for greater monetization.
Pluck provides social media solutions with increase brand and community through content generation, syndication and social networking. Pluck has 2 main products SiteLife and BlogBurt. SiteLife are tools for the audience the power to contribute their ideas, expertise and interests to the web site. The result is an active and energized community of online users generating content, interacting with each other and coming back to your site and enhancing the brand. BlogBurst Syndication Network is a premium content syndication service that matches thousands of topical, editorially selected blogs with top media sites and web portals. BlogBurst helps web site and properties add relevant content and fresh perspectives that engage users and drive site traffic
Previously Goldman invested 100M into Demand Media, and early rounds included amounts of $120 M and $100 M. The investors include Goldman Sachs, 3i Group, Generation Partners, Oak Investment Partners and Spectrum Equity Investors.
Categories : Media & AdsTags : Deamand Media, Digital Content, Pluck, Social Media