Adult Friend Finder Is Going Public
US based FriendFinder Networks (formerly Penthouse Media Group) has filed a registration statement with the SEC to go public. The story was broken by Techcrunch and this seems like a huge leap for the adult network.
Little known Russian investment bank Renaissance Capital is representing them in the deal. The company hopes to raise $460 million in the IPO.
Penthouse acquired Adult FriendFinder in December 2007 for approximately $400 million. Currently the network has $244 million in revenues from the first three quarters of 2008.
This seems like a very interesting move by FriendFinder Networks. It shows that there is simply just so much money in the adult industry online and now they are looking to move public and grow the services even faster, while cashing out at the same time.
