Company Will Lead Expansion of Generic Top Level Domains under Rightside Brand; Taryn Naidu Selected as Incoming CEO
SANTA MONICA, Calif. November 5, 2013 – Demand Media, Inc. (NYSE: DMD), a leading media and domain services company, today announced that Taryn Naidu, who currently serves as Demand Media’s Executive Vice President of Domain Services, will become the CEO and a Director of the newly formed domain services company that is proposed to be spun off from Demand Media. Demand Media also announced that it has selected the name Rightside Group, Ltd. (“Rightside”) for the spun off domain name services business.
Rightside will be a Kirkland, WA based technology and services company for the Internet domain industry. The company will advance the way consumers and businesses define and present themselves online through a comprehensive technology platform making it possible to discover, register, develop, and monetize domain names. Rightside will play a leading role in the historic launch of new generic Top Level Domains, and the name represents a new way to navigate the Internet, while establishing the new company as the one to guide users in the right direction. It’s everything to the right of the dot – and beyond.
Taryn Naidu, who has led Demand Media’s domain services business since 2011 will become Chief Executive Officer of Rightside, upon completion of the separation. Additionally, Rightside executive management will include Wayne MacLaurin as Chief Technology Officer and Rick Danis as General Counsel. David Panos will be appointed as Chairman of the Board of Directors and Shawn Colo, Demand Media’s Interim President and Chief Executive Officer, will be appointed as a Director of Rightside in connection with the separation.
“Establishing the leadership team and brand identity of the proposed new company marks an important milestone in achieving our plan to separate our business into two distinct market leaders,” said Demand Media Interim President and Chief Executive Offer Shawn Colo. “I am pleased to announce a very strong executive team led by Taryn. This team has a wealth of industry experience, has played an integral role in building the largest wholesale domain registrar and is driving the transformation of this business into one of the largest end-to-end domain name service providers in the world.”
“Rightside’s mission will be to help millions of businesses and consumers define and present themselves online. We’re able to deliver on this through our distribution network of more than 20,000 active partners, one of the leading domain services technology platforms, a large number of applications for new generic Top Level Domains (gTLDs), and a deep bench of industry talent,” said Taryn Naidu, newly designated incoming Chief Executive Officer of Rightside. “It’s an exciting time for us, as new gTLDs start going live this year and our path to becoming an independent public company as a leader in our industry progresses. ”
Rightside plans to inspire and deliver new possibilities for consumers and businesses to define and present themselves online. The company will be a leading provider of domain name services, offering one of the industry’s most comprehensive platforms for the discovery, registration, development, and monetization of domain names. This will include 15 million names under management, the most widely used domain name reseller platform, more than 20,000 distribution partners, an award-winning retail registrar, the leading domain name auction service and an interest in more than 100 new Top Level Domain applications. Rightside will be home to some of the most admired brands in the industry, including eNom, Name.com, United TLD and NameJet (in partnership with Web.com). Headquartered in Kirkland, WA, Rightside will have offices in North America and Europe. For more information please visit www.rightside.co.
About Demand Media
Demand Media, Inc. (NYSE: DMD) is a leading digital media and domain services company that informs and entertains one of the internet’s largest audiences, helps advertisers find innovative ways to engage with their customers and enables publishers, individuals and businesses to expand their online presence. Headquartered in Santa Monica, CA, Demand Media has offices in North America, South America and Europe. For more information about Demand Media, please visit www.demandmedia.com