Demand Media Raises $35 Million In Funding
After paying $70 (or so) million for Pluck earlier this month, Demand Media appears to have returned to the proverbial watering hole. A new round of funding added $35 million to its reserves.
The self-proclaimed social media company has now raised a total of $355 million throughout its existence, according to Chris Morrison. Demand isn’t exactly blabbing about what it plans to do with the fresh cash – the latest news item listed on its website is the 20-day-old acquisition of Pluck – but it seems possible that more acquisitions will occur.
Morrison also adds, "The acquisition of Pluck makes Demand look as if it might finally be moving to build out its portfolio of domains with content, perhaps partially user-generated."
Or the move may be a defensive measure. We’re still, by most accounts, towards the beginning of an economic recession; piling up money would be a good way to survive it.
In any event, Demand’s latest windfall qualifies as part of its fourth funding round. It’s not too often that you hear of things going beyond this point, so something interesting may happen soon.