Media - Monday, January 28, 2008
LiveStrong Folded Into Demand Media. Lance Armstrong Takes A Stake In Demand
With the 80M+ yellow LiveStrong bracelets sold over the past few years to benefit Lance Armstrong's cancer foundation, the brand is a fast rising star. But do date, LiveStrong.com has been parked. We learn now that heavily financed Demand Media will run the site and that Lance Armstrong has taken a stake in Demand Media, which at it latest round commanded a $1B+ valuation having raised $320M.
The Wall Street Journal broke the story but neither Demand Media nor Armstrong would confirm the size of the equity stakes, although Demand Media chief Richard Rosenblatt said the deal is significant.
The to be launched LiveStrong Web site is intended for people who want to count calories, track workouts or connect with other people trying to keep fit. Rosenblatt and Armstrong became buddies having both served on the board of VC-backed sports-drink company FRS Co.
View - LiveStrong site
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