QUOTE AND NEWS
DailyFinance  Nov 19  Comment 
Filed under: News, Crime Do you know what it feels like to have an online account hacked? You might feel annoyed if spambots started posting false Facebook statuses to your page or violated and scared if your online bank account gets...
CNNMoney.com  Nov 15  Comment 
Adult FriendFinder, a dating website that got hacked last year, is investigating claims that millions of customers have had their personal information exposed in a second hack.
newratings.com  Nov 14  Comment 
WASHINGTON (dpa-AFX) - Account details of more than 400 million users of Adult FriendFinder site has been stolen, the second time this year that the adult-themed website has been hacked. The email addresses and passwords of 412 million accounts...
TechCrunch  Nov 13  Comment 
 If you have an account on AdultFriendFinder, Cams.com, Penthouse, Stripshow and/or iCams.com — and reused it on other sites — you should probably change your password. FriendFinder Networks, the parent company of those sites, has reportedly...
Japan Today  Jan 19  Comment 
Adult magazine Penthouse will end its print edition after 50 years, becoming the latest publication to go exclusively digital. Parent company FriendFinder Networks Inc said the magazine will henceforth be released in online-only format and that...
CNNMoney.com  May 27  Comment 
Read full story for latest details.
New York Times  May 23  Comment 
FriendFinder Networks, the Silicon Valley company that operates the service, said in a statement that it hired a prominent cybersecurity firm to investigate and is telling members to update their user names and passwords.
CNNMoney.com  May 22  Comment 
Read full story for latest details.
DailyFinance  Dec 11  Comment 
SAN MATEO, CA -- (Marketwired) -- 12/11/13 -- Freedom Financial Network, LLC (FFN) announced that it has received a capital commitment of $125 million from private investment firm Vulcan Capital. FFN will use this capital to grow its lending...




 
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FriendFinder Networks (NASDAQ:FFN) is an online media company that operates several social networking and entertainment websites around the world. These specialized sites look to appeal to groups who have specific interests in networking and social media. The company focuses on building sites that either allow individuals to enter an online social network or create live interactive videos. The interactive videos allow models to interact with users through video and instant messaging. FriendFinder makes money through online subscriptions and paid usage for certain services.[1]

While many social networks and videos sites have attempted to remain unspecialized in order to allow all members to join, FriendFinder has not. FriendFinder focuses on finding specific niches of internet users who all have a common interest or desire. By creating a different website specifically for each of these groups, FriendFinder hopes to better serve their needs. This is in contrast to networks which operate single, large platforms that do not focus on any specific group.[2]

The company's initial public offering of stock on the NASDAQ occurred on May 10, 2011. The company offered 5M shares each for $10. This was at the low end of the $10 - $12 initial price range. The company had originally planned to sell 20M shares in February of 2010.[3] However, the company decided to delay its IPO. This offering raised a total of $50M. The lead managers of the IPO were Bank of America (BAC) and Citigroup (C).[4]

For the full year 2010, FriendFinder reported a total revenue of $346M and a net loss of $43M. While this was a 5% increase in total revenues from 2009, the net loss also increased by 2%[5]

References

  1. FFN S-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1-2
  2. FFN S-1/A 2011 PROSPECTUS SUMMARY "Our Strategy" pg 4-5
  3. FriendFinder Networks S-1/A
  4. Renaissance Capital - IPO Home "Jiayuan.com prices IPO at $11, the midpoint of the range" 11 May 2011
  5. FFN S-1/A 2011 PROSPECTUS SUMMARY "Summary Consolidated Financial Information and Other Financial Data" pg 7
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