10-28-2012, 12:50 PM
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Confirmed User
Industry Role:
Join Date: Jun 2003
Location: Los Angeles, CA
Posts: 512
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Quote:
Originally Posted by Crazy Enough
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Interesting ...
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AdultFriendFinder.com, which helps people meet for sex, accounts for about 65 percent of the company’s revenue, S&P’s Haines wrote in the Aug. 22 report. The firm lost $31.1 million last year and reported interest expense of $86 million, eclipsing its $64.7 million of operating income.
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One of Bell’s failed ventures was a transaction in September 2011 to buy an international daily-deals business called JigoCity. FriendFinder lost about $11.5 million on JigoCity this year, then sold the firm back to its previous owner for $1 on August 1, according to the Aug. 14 regulatory filing.
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... they apparently paid 65 million for JigoCity. |
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