Thursday, February 17, 2011

The Armstrong Foundation Achieves A Major Stock Gain

A gain of over three million dollars in the stock market has been achieved by the Lance Armstrong Foundation. The foundation is a content provider for Demand Media, which has a licensing agreement with the foundation that allows it to make use of the Livestrong name and brand. The foundation sold off 150,000 of its shares, and Lance donated 68,000 of his own shares as well.

Demand Media recently went public on the New York Stock Exchange. It has created a for-profit health and fitness Internet platform known as Livestrong.com which utilizes the Livestrong brand. The Armstrong Foundation currently still holds in excess of 60,000 shares, and has annual revenue of approximately $48 million as a result of licensing arrangements with companies such as Nike and Oakley, and thanks to members of the public who continue to show their support with a donation.

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