Investors intrigued by the coming listing for Avid Life Media, the operator of websites such as affair-arranging service AshleyMadison.com, may soon have another choice when it comes to investing in the spicier side of the markets. The Associated Press is reporting that FriendFinder Networks, which operates Bondage.com and AdultFriendFinder.com, is hoping to raise $220-million (U.S.) in an initial public offering next week.
The IPO will no doubt be controversial, as the Avid Life Media story detailing the company's plan to list on Canadian markets via a reverse takeover was one of the Globe's most-read stories Monday and it drew dozens of comments - many unfavourable.
FriendFinder is arguably even racier than Avid Life. FriendFinder is the company formerly known as Penthouse Media Group. Yes, that Penthouse. The company gets 70 per cent of its revenue from paid-use pornography (sorry, we at Streetwise don't know what that means, and we're certainly not going to look it up on a work computer, so you're on your own), personal advertisements and other picture-based content.
The rest comes from more prosaic online pursuits. In fact, if you're having trouble with the idea of buying shares in the sin industry, maybe this will make you feel better: FriendFinder also runs bigchurch.com, which bills itself as a website that helps match people up in "love and faith."