Demand Media, the company pursuing the audacious strategy of buying up a bunch of generic Web sites that have no staff generating real content of their own — to throw advertising on them — has raised another $100 million.

In May, we reported it raised its first $120 million. Lately, though, the company appears to be buying content as well, including acquring Hillclimb Media, a producer of niche web sites.

richard_rosenblatt.jpgThe chief executive is Richard Rosenblatt, the former chairman of the company that ran MySpace. No doubt he has grand expectations; nothing to lose from swinging for the fences. Among the half-dozen acquisitions in recent months, Demand Media also acquired eNom, which claims to be the second largest domain name registrar.

The financing was co-led by 3i, a London based public venture capital firm with offices in Silicon Valley, and Oak Investment Partners. Spectrum Equity Investors also participated in this round.

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Rosenblatt is also chair of an Arizona search engine marketing company, called iCrossing. There too, he has received lots of cash ($15M) from Oak.

Brad Greenspan, a former chief executive of the company that ran MySpace, has been just as active, if not more so.