ASSOCIATED PRESS – May 11 – FriendFinder Networks Inc. is anticipating $50 million in proceeds from an IPO of 5 million shares at $10 per share. This price is on the low end of the $10 to $12 expected price. The underwriters will also be given an option to purchase up to 750,000 more shares if there is excess demand. FriendFinder Networks plans to use the proceeds to pay off part of its debt.
The full article was originally published at Forbes, but is no longer available.
Mark Brooks: As society in general becomes ever more curious and open to sexual discovery, FriendFinder's stock should rise accordingly, provided the company is well run. FriendFinder is a behemoth company in a relatively small industry. Scale-wise it stands shoulder to shoulder with eHarmony, Match, and Fling. The dating industry in North America stands at ~$1.3 Billion a year revenue. (Full Disclosure: I worked for FriendFinder in 2003-2004, and Fling is a client of Courtland Brooks).