Andrew Conru has taken Adult FriendFinder (AFF) a long way. AFF now has 20 million members, sold for $500 million to Penthouse Media Group, and now they are readying to go IPO. AFF filed a Form S-1 with the SEC to go public yesterday.
Russian investment bank Renaissance Capital is preparing AFF for the IPO. AFF hopes to raise $460 million when going public. AFF made about $244 million in revenue in the last three quarters of the year across about 950,000 members.
AFF has about a half billion in debt that they plan on paying off with the IPO. AFF is based in Boca Raton, Florida, led by Marc H. Bell as CEO.