In two announcements today Demand Media (DMD) acquired Society6, an e-commerce marketplace for artwork and related merchandise for $94 Million dollars.
Society6, had 2012 revenue of $15M.
The purchase price will be paid $75M in cash and $19M in stock.
As of March 30, the company only had $109.4M in cash.
Also Demand today lowered its revenue guidance for the second quarter citing “a reduction in search engine referral traffic to its owned and operated sites in May and June.”
The company said it now expects revenue excluding traffic acquisition costs to come in the range of $95.5 million and $96.5 million, compared to its previous forecast for a range of $100.5 million and $107 million.
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