BUSINESS WEEK – Feb 14 – Noel Biderman is the CEO of Avid Life Media, based in Toronto. "Monogamy, in my opinion, is a failed experiment," he declares. Adultery has been good to Biderman, but defending his product is a full-time job. After spending several years as a sports agent at Chicago's Interperformances, Biderman founded Ashley Madison in 2002, naming the company after the two most popular names for baby girls that year. AshleyMadison is by far Avid Life's most successful brand with 8.5M members, 1.3 million of whom have actually paid something. Avid Life is expected to generate $60M in revenue this year and $20M in profit. Biderman is quick to explain why his business isn't hurting anyone. "You eradicate Ashley Madison, you're not going to eradicate infidelity.Do you think if you stop allowing divorce attorneys to advertise, we would stop people from getting divorced?" he says. According to Justin Wolfers, an economist, Ashley Madison provides liquidity to an illiquid market, which may make the market bigger. FULL ARTICLE @ BUSINESS WEEK
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Seems interesting.
Seems interesting.