Richard Rosenblatt resigns as Chairman & CEO of Demand Media.
There’s been a change at the top of one of the domain name industry’s biggest companies.
Demand Media announced today that Richard Rosenblatt has stepped down as Chairman and CEO of the company. Shawn Colo has been named interim President and will be the interim CEO once Rosenblatt’s resignation from that position is effective at the end of this month.
Rosenblatt and Colo co-founded the company in 2006 and took it public in 2011. It went public at a valuation of over $1 billion; It’s market cap is now about half of that.
The company acquired a number of domain name companies including eNom and HotKeys, and owns a substantial number of domain names. It plans to spin off its domain name business into a separate publicly traded company.