Ashley Madison going public was a difficult task in New York, so the company will try in London, even though most of its adulterers live in the United States. There’s a perhaps-surprising reason that the owners of the Web site for people cheating on their spouses, decided to issue public stock abroad rather than New York, according to The Inquisitr. Americans say they are just too moral.
“American investors didn’t like the idea of Ashley Madison going public in New York. It’s ironic since most of its database live in America,” says one expert about the IPO.
The Toronto-based Avid Life Media says it’s planning a London public stock offering sometime this year because “Europe is the only region where we have a real chance of doing an IPO,” Christoph Kraemer, the company’s head of international relations, told Bloomberg. “We’re no longer a niche, but it’s been difficult in North America to find the support to go public.” Europe, he said, is more tolerant of adultery.
And yet, while AshleyMadison operates in 46 countries, fully half of the cheaters on the site are in the United States, according to Daily Telegraph. So maybe it’s more precise to say that Americans are too publicly moral, clutching our pearls until we’re alone in a room with our computers and smartphones, credit-cards out.
And not just a few credit cards. Somewhere around 18 million of AshleyMadison’s users are in the United States. The site has approximately 36 million users worldwide.
Avid Life, which also operates Cougarlife (which connects women of a certain age with their generally-younger admirers) and EstablishedMen, (a “sugar daddy” site), said Wednesday that it wants to raise up to $200 million to help it beef up to meet soaring demand for its services. You may cry now.
Avid Life claimed sales of $115 million last year, four times higher than in 2009, and says it’s worth about $1 billion. The site launched in 2001, and has been a target of moral outrage all along — to its own benefit. That’s the great thing about working in a business that is considered sleazy or marginal by just about everyone, including its own customers: when somebody calls you sleazy, that’s a good thing, at least from a marketing standpoint.
Avid Life says Asia is its next big market, and claims that more than half of its business will come from that continent by 2020 (a figure that would likely be much higher if the company could operate in China, but it’s hard to imagine the site, with its slogan “Life is Short. Have an Affair,” getting through that country’s government Internet filters).
Source: News Oxy | John Lester