Demand Media to plan $125 Million IPO
The developer of application for social media websites- Demand Media today announced its plans to raise IPO’s to the tune of $125 million.
Demand media was founded in 2006 with a financial support from Goldman Sachs, Oak Investment Partners in Palo Alto, California, and Spectrum Equity Investors in Menlo Park, California.
Interestingly the company that provides content on various topics like fitness, health and travel has not declared any profits till date.
However analysts contemplate that the reason behind the company’s move of coming up with an IPO is largely because the filings for U. S. IPOs climbed to the highest since 2007 last quarter. And secondly Standard and Poor’s
500 Index recorded its biggest monthly gain in a year in July.
The appointment of Joanne Bradford as Chief Revenue officer of the company in March this year also comes as an extension to this step.
This announcement has been made by the company while filing with the securities exchange commission.
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