Friday, March 6, 2015
Demand Media Names New CFO
Santa Monica-based Demand Media said Thursday that it has named a new CFO, appointing Rachel Glaser to the position. Glaser was most recently the CFO of Move, Inc. The announcement came as part of Demand Media's quarterly results announcement, where the company reported 2014 revenues of $172.4M. Sean Moriarty, who is now heading up Demand Media, said the company saw strong growth in its marketplace businesses, including Society6 and Saatchi Art. The company saw 70% year-over-year growth in that new business. Demand Media's content and media side did not do so well, with revenues declining 33 percent year-over-year; Demand said that decline came primarily due to lower ad monetization from cost-per-click advertising. Moriarty--a veteran CEO who joined Demand media when it acquired Saatchi Art--looks to be in the midst of a major revamping of Demand Media's business model and business.