AllthingsD.com just posted a story on how one shareholder of DemandMedia, Michael Blend who already received 2 million shares of Demand as part of the compensation for the sale of his former company Hot Keys to Demand, just sold another company to Demand.
AllthingsD writes:
“Demand Media’s recent purchase of technology company RSS Graffiti is good news for Michael Blend, who owned 40% of the start-up” which Demand just purchased for $16.4 million, “primarily in cash”.
Michael is not just a shareholder of Demand but its executive vice president for special projects.
I have meet Michael on several occasions and he is a very smart, highly likeable guy.
Congrats to Mike.
So hotkeys was sold for whats now work about $18m ?
Doesnt sound like a great deal at the end of the day.
Of course it was worth about $55m at the time of the IPO.
Things like this do not add up, sounds fishy.
Oh well…..