MASHABLE - Apr 23 - Nearly 15 years ago, Noel Biederman launched AshleyMadison. He intends to raise ~$200M in an IPO in London later this year. The AshleyMadison IPO will likely be a litmus test for how public investors view a service on the fringes of social norms. That is part of the reason the company is choosing London over New York for its IPO. AM pursued an IPO on the Toronto Stock Exchange in 2011, but investors gave it the cold shoulder.
Q&A with Noel Biderman
Q: Why go public?
A: I’ve tried to attract world-class talent. By going public, you can attract a whole slew of talent and I think this company is worthy of that magnet effect.
Q: How do you plan to grow your business?
A: There's a huge trillion-dollar economy that gets built on the back of unfaithfulness — the hotel industry, jewelry, flowers. Maybe there's an opportunity to participate one level deeper in that economy. If you’re a public company i think they take your phone call.
Q: How much longer do you really plan to stick with it?
A: I think I am going to be tied to this thing forever.