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Shashoua also said credit card companies had refused to process transactions for the company’s Internet businesses. Friend Finder has not turned in a net profit since at least 2008, according to Thomson Reuters data.
The company was formed by Marc Bell and Daniel Staton in 2003 when they acquired out of bankruptcy the publisher of Penthouse, Guccione’s racier rival to Playboy.
A major data breach to the "sex and swingers" website Adult Friend Finder could trigger a series of follow-on hacks, security researchers have warned.In a move, philosophically counter to Playboy, newly-formed company Penthouse Global Media Inc.(PGMI) has acquired the Penthouse brand, and all licensed assets from Friend Finder Network (FFN), an Internet-based social network, best known for its hook-up, dating and adult sites such as Adult Friend Some of that drop was offset by a 7.8 percent rise in live interactive video revenue.Ezra Shashoua, the company’s chief financial officer, blamed the lower revenue on a drop in membership and increased advertising costs for affiliates, according to court documents.
It is the second time in as many years that Adult Friend Finder has been hacked, following 3.5 million user records being exposed in May 2015.