Richard Rosenblatt

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Richard Rosenblatt (born 1969) is a serial entrepreneur and the Co-Founder, Chairman and CEO of Demand Media. He has built, operated, and sold over $1.3 billion of Internet media companies.[1]

Early life[edit]

Rosenblatt was born in Woodland Hills, CA on 6 April 1969. He is Jewish,[2] and was raised in Southern California by his physicist father Martin and Health Sciences Professor mother Jane.[3] Rosenblatt went on to earn a B.A. from UCLA, and a J.D. from University of Southern California Law School (class of 1994). After getting his law degree, Rosenblatt took a job at Brobeck, Phleger & Harrison, in Los Angeles, but quit after 6 months citing boredom.[4][5]

Career[edit]

In October 1994, Rosenblatt co-founded iMALL and served as head of internet media and web development. iMALL's products included a suite of tools to build e-commerce stores and transact commerce over the internet.[5][6] Rosenblatt replaced one of the founders, Craig Pickering, as CEO in July 1996 and took on the additional role of Chairman of the Board in January 1997. Rosenblatt oversaw a restructuring and rebuilding of the business. In 1998, iMALL partnered up with First Data Merchant Services (FDMS) in a deal that provided access to roughly 2 million merchants and included a $14 million equity stake in iMALL.[6] In April 1999, Verio, Inc. teamed up with iMALL and First Data to create VerioStore, a product selling e-commerce services.[7][8] Later that same year, IBM bought iMALL and First Data’s technology for their e-commerce services.[9] In July 1999, Rosenblatt negotiated the sale of iMALL to Excite@Home for $565 million. In 1999, iMALL and two of its founders were sued by the Federal Trade Commission, though Rosenblatt was not among those named in the suit.[10] Rosenblatt became the Sr. VP of e-commerce for Excite@Home for a short period of time.[5][11]

Following iMALL’s sale, Rosenblatt became the founding investor and vice chairman of Great Domains. The company became a leader in the secondary domain market and was acquired by VeriSign, Inc. in October 2000 for $100 million.[1][5]

In August 2000, Rosenblatt became the interim CEO of the ailing DrKoop.com.[4] His participation was part of a larger effort by investors to reconfigure the business into a hybrid online and offline venture that was structured to be less dependent on the erratic flow of advertising dollars.[12] The turn-around was nearly complete when the Internet market collapsed and 9/11 occurred, causing the company to file for bankruptcy in December 2001.[5][13]

Rosenblatt became CEO of Superdudes.net, an online gaming community where users created their own Superhero character and participated in global social networking in 2002. [1][14]

In February 2004, Rosenblatt became CEO of Intermix Media (formerly eUniverse, Inc.) where he led the growth of Myspace.com from an unknown web site to one of the most popular properties on the Internet. In 2005, Intermix was sold to News Corporation for $649 million, $580 million of which was cash, with an additional $69 million being paid to private shareholders.[5][7][15][16] In 2005, former New York Attorney General Eliot Spitzer filed suit against Intermix. Rosenblatt was not among those named in the suit. Spitzer accused the company of installing advertising software without notifying unsuspecting consumers. Intermix acknowledged this was part of an outdated practice put in place by previous leadership, but insisted the company no longer installed software without first notifying a customer they were doing so.[17] The case against Intermix was later settled for a monetary sum, though there was no admission of guilt. The founder and former CEO of Intermix Media Inc., Brad Greenspan, was fined $750,000 as part of an agreement with Spitzer to end the investigation against him.[18] In 2006, Greenspan filed suit against Intermix, claiming the executives and directors, Rosenblatt among them, withheld key information to shareholders regarding the potential revenue generated by the sale of Intermix to News Corp. Greenspan specifically said the sale cheated shareholders by not including the growth potential of MySpace.com in the agreed upon sales figure.[19][20] Critics pointed out that at the time of the sale News Corp’s purchase of Intermix was still considered a financially risky proposition. Further damaging his claims was the fact that Greenspan was asked to step down as CEO when the company had been under investigation by the SEC and the shares had dropped to an embarrassing low.[18][21][22] The case was dismissed on Friday, 6 October 2006, when Judge Carolyn Kuhl determined that shareholders of Intermix Media, Inc. had been lawfully informed prior to voting on the transaction.[23][24] On 1 August 2008, a judge ordered one count in the class action shareholder suit brought against the Intermix executives could go forward. The case is still pending.[21][25]

Rosenblatt then co-founded Demand Media with private-equity executive, Shawn Colo. The company launched in May 2006 with $120 million in equity, and announced the acquisitions of eNom, Inc. and eHow.com. By March 2008, Demand Media raised the total amount of equity to $355 million.[26][27] Demand Media owns many websites, including eHow and Golflink.com.[5] In January 2008, Demand Media partnered with Lance Armstrong and his Foundation (LAF) to build out the daily health, lifestyle and fitness destination, LIVESTRONG.com. [27][28]

Rosenblatt is Chairman of the Board at iCrossing, Inc. and Demand Media, Inc. He is a member of the Board of Directors of FRS.[8][27]

In addition to his internet ventures, Rosenblatt is the co-owner of several Southern California nightclubs named Air Conditioned. The first was established in 2002 in San Diego, while the other two are located in Venice and Santa Monica.[5]

Lecturer[edit]

Rosenblatt is a co-lecturer with Peter Guber under UCLA’s MBA program for the course, "New Media: The Convergence of the Poet and the Engineer.” [29] He was also recently named the USC Entrepreneur of the Year 2008.[30]

Philanthropy[edit]

Rosenblatt is a Gold Circle Member of the City of Hope Helford Clinical Research Hospital, a National Cancer Institute-designated Comprehensive Cancer Center. He is also active with the Lance Armstrong Foundation, LIVESTRONG.[27]

Personal life[edit]

Rosenblatt is married to his wife of 16 years, Lisa Rosenblatt. The couple has three children (two sons and a daughter) together and resides in Brentwood, Los Angeles, California.[5][31]

References[edit]

  1. ^ a b c Jackson,Ron."His Companies Have Sold for Over $1.3 Billion: Can Demand Media's Richard Rosenblatt Do It Again with Domains?", DN Journal. Retrieved 21 November 2008.
  2. ^ "Richard Rosenblatt". Cracked.com. Retrieved 10 September 2013. 
  3. ^ "Resume: Richard Marc Rosenblatt". BusinessWeek.com. Retrieved 10 December 2013. 
  4. ^ a b Weintraub, Arlene."Can This Man Cure Dr. Koop.com?", BusinessWeek. 1 October 2001. Retrieved 8 January 2009.
  5. ^ a b c d e f g h i Brown, Erika."The Mixologist", Forbes. 26 September 2007. Retrieved 18 November 2008.
  6. ^ a b "iMALL Completes Year of Transition, Reports Fourth Quarter Results", Business Wire (link published by AllBusiness). 18 March 1999. Retrieved 21 November 2008.
  7. ^ a b "Richard Rosenblatt: How I Sold MySpace", bnet. Retrieved 14 November 2008.
  8. ^ a b "Verio Chooses iMall-First Data To Tam On Web Store", Computergram International (link published by Article Archives). 7 April 1999. Retrieved 21 November 2008.
  9. ^ Hollander, James."Red Hot iMall Stock Headed for Nasdaq NMS", TechNewsWorld. 19 May 1999. Retrieved 21 November 2008.
  10. ^ Menn, Joseph.“Champion of the Obscure”, Los Angeles Times. 16 July 2008. Retrieved 11 December 2008.
  11. ^ “Excite@Home Buys iMall, Makes Deal With First Data”, Computergram International (linked by bnet). 14 July 1999. Retrieved 2 December 2008.
  12. ^ Konrad, Rachel.“Dr. Koop hopes Buy will get sales in shape”, cnet. 14 March 2001. Retrieved 15 November 2008.
  13. ^ “SEC legal document”. Retrieved 18 November 2008.
  14. ^ “10-K SEC filing”, EDGAROnline. 15 June 2004. Retrieved 19 November 2008.
  15. ^ Francisco, Bambi.“News Corp. to Pay $580M for Intermix”, MarketWatch. 18 July 2005. Retrieved 18 November 2008.
  16. ^ New Corporation to Acquire Intermix, Media, Inc”, News Corp. 18 July 2005. Retrieved 19 November 2008.
  17. ^ Hines, Matt. “Intermix hit with spyware suit”, CNET News. 28 April 2005. Retrieved 11 December 2008.
  18. ^ a b Regan, Keith."Spitzer, Intermix Ex-CEO Agree on Settlement", TechNewsWorld (link published by E-Commerce Times). 21 October 2005. Retrieved 8 January 2009.
  19. ^ Gardner, Eriq.“Judge Dismisses MySpace Founder’s Suit”, thres (link published by AllBusiness). 9 October 2006. Retrieved 2 December 2008.
  20. ^ Scott, Katie.“MySpace execs facing lawsuit over sale to News Corp”, Pocket-lint. 4 August 2008. Retrieved 11 December 2008.
  21. ^ a b McCarthy, Caroline."Small Victory for Brad Greenspan in Ongoing MySpace Spat", cnetnews. 1 August 2008. Retrieved 11 December 2008.
  22. ^ Oates, John.“Intermix sticks with Murdoch”, The Register (link published by Financial News). 27 September 2005. Retrieved 8 January 2009.
  23. ^ “Suit over sale of MySpace dismissed”, Bloomberg News (link published by seattlepi.com). 10 October 2006. Retrieved 2 December 2008.
  24. ^ Hefflinger, Mark.“Judge Dismisses Shareholder Suit Over News Corp. Purchase of MySpace”, digitalmediawire. 10 October 2006. Retrieved 2 December 2008.
  25. ^ “MySpace Shareholders Suit to go to Trial”, CIOinsight (link published by Reuters). 1 August 2008. Retrieved 11 December 2008.
  26. ^ Ali, Rafat.“Demand Media Raises Another $35 Million; Total Comes to $355 Million”, paidContent.org. 24 March 2008. Retrieved 2 December 2008.
  27. ^ a b c d Menn, Joseph."Lance Armstrong's LiveStrong Gets a Boost From Demand Media", Los Angeles Times. 16 June 2008. Retrieved 2 December 2008.
  28. ^ Ali, Rafat.“Lance Armstrong Takes Significant Stake In Demand Media; Launching Wellness Site Together”, 27 January 2008. Retrieved 2 December 2008.
  29. ^ Fritz, Ben.“Guber, Rosenblatt to teach at UCLA”, Variety. 15 January 2009. Retrieved 15 January 2009.
  30. ^ USC Marshall website. Fall 2008. Retrieved on 8 January 2009.
  31. ^ http://www.hollywoodreporter.com/news/why-brentwood-real-estate-is-217524