UPDATE: A quick clarification. Livestrong.com is not the website of the Lance Armstrong Foundation. (That’s Livestrong.ORG.)
The partnership mentioned below was actually licensing deal between the Foundation and Demand Media, which was given the rights to create a health and fitness website called, Livestrong.com.
The next big internet IPO will be Demand Media, which is scheduled to go public next week. According to CNBC’s Hank Greenberg, one of the biggest beneficiaries of the sale will be cyclist Lance Armstrong. (Via @darrenrovell)
Demand Media has its hands in a lot of online ventures, but one of them is the partnership that created Livestrong.com. The company paid to build and develop the website for the Lance Armstrong Foundation Livestrong.com and as part of the deal, Lance and his organisation received “significant equity” in the company.
The exact amount of Armstrong’s equity is not known, but the offering is expected to put the company’s valuation at around $1 billion. More than a few investors think the stock will be a dog, but that won’t necessarily prevent major backers from cashing in first.
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