FriendFinder Networks Files IPO in Desperation

post from Internet Sector and Stocks Analysis from Seeking Alpha on 25 December 2008 04:15:20 AM. © Internet Sector and Stocks Analysis from Seeking Alpha

Tate Dwinnell submits:

Within the carnage of the 2008 IPO market, we have an announcement of a new IPO filing here at the end of the year that will surely generate some interest (maybe curiosity is a better word) as we head into 2009. FriendFinder Networks, formerly Penthouse Media Group (before Penthouse bought the FriendFinder sites from Various for $500 million and changed its name) have filed a registration statement with the SEC for a $460 million IPO which will be offered by Renaissance Capital.

FriendFinder Networks is the company behind Penthouse & AdultFriendFinder.com, an adult social networking/dating site generating over 20 million unique visitors a month. It's by far the most popular internet property of the company that also runs Cams.com (4 million visitors), FriendFinder.com (500K visitors), SeniorFriendFinder.com (325K visitors), Amigos.com (200K visitors), AsiaFriendFinder.com (100K visitors), and BigChurch.com (75K visitors). That puts FriendFinder Networks' total traffic per month at about half of what MySpace and Facebook are getting, BUT FriendFinder Networks monetizes with monthly membership fees in addition to a bit of advertising, so in terms of monetization alone, I'd argue the properties together may be more valuable.

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