Demand Media sucks in $35M, continuing raise-and-acquire trend
Demand Media, one of the most heavily funded companies on the internet, has boosted its lifetime total to $355 million with a new $35 million investment reported by peHUB.
While the amount would be shockingly large for almost any other company, it’s a relatively small funding for Demand; for perspective, the new investment is about half what the company payed for the social media tool provider Pluck in a deal reported earlier this month.
Demand is better known for buying large numbers of generic web sites based on the value of their names, then plastering them with advertisements. The acquisition of Pluck makes Demand look as if it might finally be moving to build out its portfolio of domains with content, perhaps partially user-generated.
The source of the newest funding was not disclosed. Demand is based in Los Angeles, Calif.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.