Demand Media raises $100M for Web site land grab

Demand Media, the company pursuing the audacious strategy of buying up a bunch of generic Web sites that have no staff generating real content of their own — to throw advertising on them — has raised another $100 million.

In May, we reported it raised its first $120 million. Lately, though, the company appears to be buying content as well, including acquring Hillclimb Media, a producer of niche web sites.

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The chief executive is Richard Rosenblatt, the former chairman of the company that ran MySpace. No doubt he has grand expectations; nothing to lose from swinging for the fences. Among the half-dozen acquisitions in recent months, Demand Media also acquired eNom, which claims to be the second largest domain name registrar.

The financing was co-led by 3i, a London based public venture capital firm with offices in Silicon Valley, and Oak Investment Partners. Spectrum Equity Investors also participated in this round.

Rosenblatt is also chair of an Arizona search engine marketing company, called iCrossing. There too, he has received lots of cash ($15M) from Oak.

Brad Greenspan, a former chief executive of the company that ran MySpace, has been just as active, if not more so.