Wednesday, September 26, 2007

Demand Media Reportedly Raises $100M

Los Angeles-based Demand Media has reportedly raised another $100M in venture funding. A spokesperson for the firm did not respond to requests by socalTECH for comments on the venture funding, however sources close to the firm confirmed that the company had just closed a round. Demand Media is the new media firm headed by former MySpace chairman Richard Rosenblatt, which owns eNom, Answerbag.com, eHow.com, and other web sites. Private Equity HUB reported that the round was led by Goldman Sachs, and also included 3i Group, Generation Partners, Oak Investment Partners, and Spectrum Equity Investors. The additional investment of $100M would bring the firm's total raise to $320M in venture capital. More information »

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