What does a money-losing porn and social-networking company do with a $95,000 car? Apparently, it tries to give it away as a contest prize. Still unclear: Why Adult FriendFinder bought the Ferrari from its founder.
Anyone who buys into the FriendFinder Networks IPO won’t just be buying a piece of a debt-ridden, money-losing collection of porn sites and social networks. They’ll also be buying a piece of a car the company bought from one of its founders, and now values at $95,000. Readers tell me it’s a Ferrari Modena.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
D is unlike any other executive conference. Since its debut in 2003, D has brought to life the energy and excitement of the digital revolution in an unscripted, upfront and unparalleled way. Read more »
Don't miss a post! Sign up for our Daily Email and get AllThingsD.com delivered each day.
Get columns, blogs and video from D and All Things Digital on your iPhone. Download now »
