FriendFinder 65 million dollars to buy site operators

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Beijing time September 12, news from foreign media, the U.S. Adult online social networking site and the "FriendFinder NX" Company announced today that FriendFinder will be worth 65 million of dollars in shares and warrants to buy the site ( www.jigocity.com) operator BDM Global Ventures.

It is reported that the 65 million dollar acquisition will contain a value of about 1.6 million of FriendFinder common stock and price range between 5 to 18 U.S. dollars FriendFinder preferred shares.

Jigocity is a social business company, and its main business is to offer group buying services to users. At present, the company has about 150 employees, the number of users over 1 million, the scope of services covering China, Singapore, Malaysia, Korea, Australia, Brazil and the United States. According to the data, jigocity in Brazil and Australia in August this year, the receivables reached 1.1 million U.S. dollars. After the acquisition, Jigocity's brand will be retained, headquartered in Los Angeles and its Asian headquarters in Shanghai.

"Our move not only brings a social-business company that is thriving and, to some extent, successful," said FriendFinder chief executive Malik Bell. But also makes FriendFinder will have the ability to better control the foreign market ".

This May, FriendFinder successfully financed 50 million of billions of dollars through IPOs. In June this year, FriendFinder released its first quarterly earnings since the IPO, with a total loss of $3.7 million trillion.