Adult friend finder scam
The contemplated public offering, scheduled to reach the market on January 27, 2010 was delayed by FFN.Friend Finder had not turned a net profit since at least 2008.Other company holdings, such as Penthouse, Stripshow, and i Cams were also breached, for a total of 412,214,295 affected users.The hack also revealed that the company had kept information on 15 million accounts that users had deleted, as well as information on users for assets it no longer owned, such as Penthouse.The company primarily deals in adult entertainment, online dating, and social networking services.
This connection may be used to tarnish individuals’ reputations and could enable extortionists to make credible threats to such users.
The company had also indicated that it lacked existing cash or cash from operations to repay a .5 million debt that was due July 31.
It has cautioned that, unless it can repay or restructure its obligation, it will face “a material deficiency in our short term liquidity.” With these shortfalls in mind, the company again announced an intention to make an initial public offering of stock, representing a 49% stake in the company, with plans to use the proceeds to pay down its debt and become listed on the New York Stock Exchange.
Friend Finder Networks (formerly Various, Inc.) is an American internet company founded in 1996 by Andrew Conru.
Its corporate headquarters are located in Boca Raton, Florida, with additional offices in California, New York, and Taiwan.