SUN SENTINEL - Dec 30 - FriendFinder Networks owns ~30K sites, also owns Penthouse Magazine, and has more unique visitors than MySpace and Twitter. In 2010, FriendFinder Networks expects $350M revenue. In 2009, the company earned $330M and EBITDA of $103M. It lost money 2006, 2007 and 2008. Early in 2010, the company postponed an IPO of $240M citing market conditions. CEO, Marc Bell said he hopes to make acquisitions using proceeds from the $551M financing the company completed in October. Penthouse Media spent ~$400M to acquire Various Inc. and changed the name to FriendFinder Networks. In July, the company made a $210 million offer for Playboy Enterprises that's still pending. FULL ARTICLE @ SUN SENTINEL
Mark Brooks: A well-timed
FriendFinder IPO would build a lot of investor awareness in the iDating space, and help drive up prices for
IAC,
Spark Networks, EasyDate and
Snap Interactive and bring more money to the coffers of startups. You can see financial analysis and summaries of these companies in pdf's on the right bar of OPW over here >>>
Full Disclosure: I worked for Andrew Conru at FriendFinder in 2003-2004
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