By: E&P Staff
Demand Media has hired Goldman Sachs to explore an initial public offering (IPO), the Financial Times reported Friday.
Citing unnamed “people familiar with the plans,” Kenneth Li reported the content provider could launch the IPO as early as August in an offering valuing the company at about $1.5 billion.
Demand was founded by Richard Rosenblatt in 2006, after he sold the social media site MySpace to Rupert Murdoch’s News Corp. for $580 million.
Demand algorithms search the Web and repurpose data into mostly how-to stories and videos for clients, that include several newspapers.