Demand Media, the often disliked new media content factory that is the unemployment insurance of writers everywhere, has selected the New York Stock Exchange over the NASDAQ for its initial public offering.
The company has raised tens of million of dollars, and executed a 1 for 2 reverse stock split to help prepare for its public offering.
Demand Media has declared that it intends to use between 50 and 75 million dollars in proceeds from the offering to further its investments in content. The company has saidÂ previouslyÂ that it intends to raise $125 million in the offering.
The company has selected the symbol â€˜DMDâ€™ for their ticker marker. Demand Media is based in Los Angeles and will make waves when it finally takes the plunge into the realm of public companies. Demand has always been a controversial outfit, in the eyes of some making the creation of written and video content so routine that all art is drained from the final product, leaving only a shell of craft for its staff to enjoy.
Are you going to pick up a few shares? Sound off in the comments.