See! It’s not just us. Even Variety is joining in.
From yesterday’s issue:
Just look at Demand Media, the Santa Monica, Calif.-based firm some thought would revolutionize content production. Not long after the company went public in January 2011, its market capitalization soared to more than $2 billion, sending the then-5-year-old firm’s value briefly past that of the New York Times Co.
Compare those heights with where Demand finds itself today, having plummeted to roughly a quarter of its peak value. Revenues for the most recent quarter were down year-over-year for the first time since that IPO. Co-founder Richard Rosenblatt is no longer CEO as of October, and the search for his replacement is under way. Demand and Rosenblatt declined comment.
Read the rest HERE.
I guess it doesn’t really matter in the end.
The rich got richer and everyone who was relying on Demand for an income over the holidays got screwed.