Demand Media shares soar in IPO – Jan. 26, 2011

NEW YORK (CNNMoney) — Shares of online content creator Demand Media closed 33% higher Wednesday, following an IPO that valued Demand at more than $1 billion.

That gives Demand a valuation of $1.5 billion — more than the New York Times Co (NYT)., though less than other media stalwarts like Gannett Co. (GCI, Fortune 500) and Washington Post Co (WPO, Fortune 500).

The NYT has less public value than the absurd, dystopian Demand Media. That’s a really sad commentary on the state of the internet today.

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