Demand Media plans to invest between $50 million and $75 million in content in 2011, according to the company’s latest IPO filing.
The company, which owns number two registrar eNom, has also disclosed that it plans to list itself on the New York Stock Exchange under the ticker symbol DMD.
Under “Use of Proceeds” in its latest amended S-1 registration form (huge HTML file), filed today with the Securities and Exchange Commission, Demand says:
We currently anticipate that our aggregate investments in content during the year ending December 31, 2011 will range from $50 million to $75 million.
Demand Media’s main business is the advertising it sells against the thousands of freelance articles it publishes every day. It had about $102 million in current assets on its balance sheet on June 30 this year.
Previous text talking about about using the proceeds of the IPO to “acquire or invest in complementary technologies, solutions or businesses” has been dropped.
The amended S-1 spends quite a lot of time talking about a reverse stock split that it is carrying out prior to its public offering.