Boca Raton,
Fla. – FriendFinder Networks, an
operator of adult-oriented websites and dating services, and publisher of
Penthouse magazine, announced on Friday that it has opted to postpone its
planned IPO, citing current market conditions.
Last month, the company amended
its filing to cut its expected take from the IPO to about $220 million, down
from $460 million.
The Associated Press notes that the company raised about
$105 million in pre-IPO trading this week, selling 15 million shares at $7
apiece.
Founded in 1996, Florida-based FriendFinder — previously called Adult
FriendFinder — was acquired by Penthouse in 2007 for about $400 million.
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