Monday, September 12, 2011

FriendFinder Networks Buys JigoCity

Sunnyvale-based FriendFinder Networks, an operator of adult websites, and publisher of Penthouse, said today that it has acquired a daily deals site called JigoCity. FriendFinder said the deal is worth approximately $65M. FriendFinder said it is acquiring BDM Global Ventures, Ltd., the company which owns the operations of JigoCity, for a combination of stocks and warrants. The company said the acquisition will expand it into social commerce and enhance its ability to monetize its members.