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- 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.
Can't say I'd be sad to see them go as I never really found any of their properties useful.