Thursday, April 16, 2015

Website For 'Cheating Spouses' Announces Multi-Million Dollar IPO

The headline speaks for itself. What is the world coming to... are we really that sick? And, if so, how long will it take for God's Judgment to fall upon us?...

(Bloomberg), a dating website for cheating spouses, wants to hook up with investors by pursuing an initial public offering in London this year.

The site’s parent company, which failed with a previous IPO attempt in Canada, said on Wednesday it is looking to raise as much as $200 million to exploit booming demand for its services.

AshleyMadison had sales of $115 million last year, an almost fourfold increase on 2009, Christoph Kraemer, its head of international relations said in an interview. It makes money by charging men for credits, which they then use for introductions to women.

Avid Life Media Inc., the Toronto-based holding company that runs along with peers and, wants the new funds for marketing and international expansion.

AshleyMadison has 36 million members in 46 countries, Kraemer said, and claims to be the world’s second-largest paid-for Internet dating website, behind ...

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Posted By: Chris Carmouche