Monday, September 12, 2011

JigoCity Acquired by FriendFinder Networks

Los Angeles-based JigoCity, the operator of a network of international, daily deals is being acquired by FriendFinder Networks, an operator of adult websites. FriendFinder Networks said it would pay approximately $65M for JigoCity, whose deal sites are run in Australia, Korea, Hong Kong, Singapore, Malaysia, Taiwan, China, and Brazil. FriendFinder said JigoCity had revenues of $600,000 in July, and approximately $1.1M in August, and has over 1 million members. The founders of JigoCity are Tony Bobulinski, Michael Dorman, and Joshua Mallamud. JigoCity will continue to be run out of Los Angeles, as well as other international offices. FriendFinder Networks is best known for publishing Penthouse.