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Updated: Demand Media IPO May Be Happening

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Just last month, Demand Media CEO Richard Rosenblatt dismissed the idea of an IPO any time soon during an interview with paidContent. But the FT‘s Ken Li is reporting that the mass content company has hired Goldman Sachs to explore just that and that an IPO could be filed as early as August. No comment when I reached a company spokeswoman tonight—no denial either.

SEE ALSO: What Questions Can We Expect Answered in Demand’s S-1?

Here’s what Rosenblatt had to say about IPO possibilities during our interview at Demand Media’s Austin offices in mid-March when I asked if an IPO was on the horizon: “At this point, we’re completely focused on growing the business. I’m not just saying that. That’s all we think about. Whatever it is, whether it’s an IPO or something else, we’re just not addressing that right now. Whenever the timing’s right, we’ll go, but not til we’re sure the business is ready for it. That’s my #1 priority: build a scalable, repeatable, growing business and if an IPO’s the right way to go, then that’s how we’ll go. But our investors aren’t pushing us, nobody’s pushing us. We’re just excited about this opportunity we have.” (This segment is near the end of the video embedded below; starting about the 14 minute mark.)

What a difference a month makes.

According to the FT, citing people familiar with the plans, the details aren’t final but a filing could come as early as August with an offering in November valuing the company in the neighborhood of $1.5 billion.

Apr 15, 2010 9:57 PM ET

Richard Rosenblatt, CEO, Demand Media


Posted In: Money, IPO, demand media, richard rosenblatt

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