Demand Media (NYSE: DMD) has announced that the company will be actively participating in the historic expansion of the internet, under ICANN’s new gTLD’s program. Demand Media applied for 26 new gTLD’s in categories such as e-commerce, social media and sports. DMD has also revealed that the company has entered into a strategic arrangement with Donuts Inc., through which Demand Media may acquire rights in certain gTLDs after they have been awarded to Donuts Inc. by ICANN. These rights are shared equally with Donuts and are associated with 107 gTLDs for which Donuts has already applied for.
Richard Rosenblatt, chairman and CEO of Demand Media Inc. said: “We believe the new gTLD program represents a significant milestone in the evolution of the Internet. In addition to delivering more choice for consumers and business owners, we expect the domain name expansion to spur innovation and new business opportunities.”
According to the press release, Demand Media will be pursuing a diverse portfolio of gTLD domain names intended to help bring millions of digital destinations to life. Guided by a proprietary, data-driven methodology, the company selected gTLD names in categories connected to an extremely broad range of interests and capabilities including: e-commerce, personal & professional identities, education, entertainment, internet life, sports, small business and social media.
“The gTLDs we seek naturally reflect and organize the world around us and will help consumers more seamlessly discover and connect with the people, information and organizations of importance to them” said Taryn Naidu, executive vice president of Demand Media.
Demand Media Inc. (NYSE: DMD) is a leading content and social media company that informs and entertains one of the internet’s largest audiences, helps advertisers find innovative ways to engage with their customers and enables publishers to expand their online presence. The company’s headquarters are in Santa Monica, California. Demand Media has additional offices in North America, South America and Europe.
Donuts Inc. CEO, Paul Stahura, added: “As previously announced, Donuts has raised more than $100 million in funding to pursue the new gTLD opportunity. Donuts’ strategic arrangement with Demand Media takes us well beyond that $100 million funding and enables both companies to utilize additional resources, expertise and talent to generate the most value and benefits for customers from this historic opportunity.”
According to the press release, Demand Media and its affiliates are neither investors in Donuts Inc. and its affiliates nor are they involved in any joint venture with Donuts and its affiliates. The relationship between the two companies, DMD and Donuts, is simply a “strategic arrangement” they say.
- Demand Media Sets IPO Pricing
- Demand Media raises an additional $35 million
- Demand Media IPO Stalled
- Demand Media Purchases Pluck for $75 million
- Demand Media to Expand to Europe in 2011