Demand Media Announces Closing of IPO

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Last week, Demand Media launched its initial public offering. Today, the company announced the closing of the IPO of 10,235,000 shares of common stock at $17.00 per share. From the release: Demand Media sold 5,175,000 shares of common stock, and the selling stockholders sold 5,060,000 shares of common stock in the offering. Demand Media received net proceeds of approximately $77.2 …