/// Demand Media Buys Society6, Cuts Revenue Outlook
Online content outfit Demand Media is moving into the e-commerce business. The company on Monday afternoon said it has purchased Society6, an e-commerce marketplace for artists, for about $94 million in cash and stock. The acquisition, part of Demand’s push to diversify its business, was announced along with a reduced revenue forecast for the current quarter. The company, which had previously estimated revenue of $105 million to $107 million, is now expecting $100 million to $101 million.
Demand Media Buys Society6, Cuts Revenue Outlook