AshleyMadison.com, the Web site for people cheating on their spouses, is looking for a $200 million IPO this year in London rather than New York. Why? Because Americans are too moral.
Christoph Kraemer, the company’s head of international relations of the parent company Avid Life Media told Bloomberg “Europe is the only region where we have a real chance of doing an IPO, ”. “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.
The Canadian company had previously looked to go public on the Toronto Stock Exchange in 2011, but reportedly those plans changed after a “cool response”.
AshleyMadison was founded in 2001 by Noel Biderman, and by now operates in 46 countries, but still half of the 36 million members, hot or cold, come from the United States, generate half of the $115 million in sales last year. Avid says the company worth about $1 billion.
Avid Life also operates Cougarlife.com to connects women younger admirers, and EstablishedMen.com, the“sugar daddy” site.