The four-year-old Lance Armstrong Charitable Foundation, launched by the 36-year old cycling legend and cancer survivor Lance Armstrong, is teaming up in a barter-type arrangement with Web-site operator Demand Media to launch a for-profit health-and-wellness Web site funded by advertising. The site, called lives-strong.com is expected to go live this year.

As part of the new venture the Lance Armstrong Foundation, and Mr. Armstrong personally, will receive equity stakes in Demand Media a Santa Monica, Calif. company run by former MySpace Chairman Richard Rosenblatt. (Armstrong got to know Rosenblatt while both served on the board of sports-drink company FRS Co.)

Demand Media is a significant player in the fast-growing online social networking world. Last year the company was valued at nearly $1 billion. Demand Media has raised about $320 million in the past 20 months from investors including Oak Investment Partners and Goldman Sachs.

Demand Media, founded in May 2006, has grown by creating niche Web sites focused on certain activities or hobbies. The company has about $150 million in annual revenue and operates some 60 sites as diverse as hikers, golf enthusiasts and gardeners. Demand normally buys these Web sites and overhauls them adding interactive features like video and chat.

The $40 million nonprofit Armstrong foundation feels that launching a for-profit site will increase awareness about the foundation and promote its core mission of helping people with cancer.

The barter component, in addition to the Foundation, and Armstrong personally, receiving significant equity stakes in Demand Media, will see Demand Media keeping the ad revenue generated by the new commercial site.

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