home furnishings company with original designs based in Colorado. History Demand Media was co-founded in May 2006 by Richard Rosenblatt and Shawn Colo. Rosenblatt has a long history of building and selling Internet media companies. As chief executive officer of Intermix Media and Chairman of MySpace.com, Rosenblatt was one of the innovators of Internet social networking. Colo is a financial acquisition specialist. He worked for 10 years in the private equity industry as a principal with Spectrum Equity Investors, specializing in media and communications companies. Demand Media raised more than $355 million in financing over its first two years from investors such as Oak Investment Partners, Spectrum Equity Investors, Generation Partners and Goldman Sachs. In June 2007, Demand Media hired Charles Hilliard, a former Morgan Stanley investment banker, NetZero/United Online senior executive and initial public offering (IPO) specialist, as its president and chief financial officer and acquired Byron Reese's how-to website, ExpertVillage.com of Austin, TX, for about $20 million. Reese became the company's chief innovation officer and developed the algorithm that the company uses to identify topics with high advertising potential. By 2008, Demand Media had acquired more than 30 domain-name portfolios and owned 65 destination websites. It said that its 2009 revenue was nearly $200 million and that it was making a profit, but it was later reported that the company had never been profitable. In July 2008, it was reported that Yahoo! was interested in buying Demand Media for between $1.5 billion and $2 billion. Sources close to both companies said Yahoo! executives were attracted to Demand Media's generation of advertising impressions and its ability to create niche social networks for media sites. Demand Media CEO Richard Rosenblatt later said that the company was not for sale. The deal never got past the talking stage. It was reported that Rosenblatt wanted a price closer to $3 billion for Demand Media. In August, 2014, Demand Media acquired online art-gallery marketplace Saatchi Art and named the startup's top executive, Sean Moriarty, as the new CEO of Demand Media Inc. The company changed its name to Leaf Group in 2016. On June 10, 2021, Leaf announced shareholders had approved an acquisition by Graham Holdings for $8.50 per share in an all-cash transaction valued at approximately $323 million. Acquisitions and dispositions Since 2006, Demand Media has acquired a collection of relatively unknown sites and relaunched them with social networking features and video