15 Sep '11, 9am

Penthouse magazine owner to buy daily deal site JigoCity

Penthouse magazine owner to buy daily deal site JigoCity

Penthouse magazine owner to buy daily deal site JigoCity September 15, 2011 by Terence LEE Now, even Penthouse wants to get into the pants of your favorite Groupon clone. FriendFinder Networks, which owns the famous adult magazine, is looking to buy up JigoCity owner BDM Global Ventures for US$65 million, reported Reuters on 12th September. JigoCity, which was started in America, operates in 20 countries worldwide, including Singapore, Malaysia, Hong Kong, and many parts of Asia. While its presence in the Singapore market is small, it claims to have a revenue of US$600,000 in July and US$1.1 mil in August. The site’s net income is unknown. This is surely the stuff of dreams. FriendFinder owns an extensive portfolio of adult websites which includes AdultFriendFinder, NoStringsAttached.com, BDSM.com, and many more. Heck, if you’re an exhibitionist, there’s something for you ...

Full article: http://sgentrepreneurs.com/news-stop/2011/09/15/penthouse...

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