Mindgeek bought by Ethical Capital Partners
PORNHUB
@thatbenmiller Mar 20
https://twitter.com/itsurboyevan/status/1637849823138443264
I’m guessing leadership resigned because of the Netflix story, and they had to get out of the picture so Visa MC doesn’t cut them off from payments. Seems like a good reason to fake a sale … to yourself. For those unaware, pornhub’s parent company mindgeek got bought last week, by, get this
“ethical capital partners”
Mindgeek owns pornhub and a bunch of other porn sites like redtube, brazzers, MyDirtyHobby, etc
Mindgeek’s history is shady as hell too!
Executives have been convicted of money laundering (2009) and tax evasion (2010)
Most recently, the CEO of Mindgeek’s house burned down right as it was put up for sale. Not a SINGLE ONE of their employees has ever worked in private equity before. None of them have ever worked in technology before. None of them have publicly worked at the fund for longer than 6 months.
The fund’s leader? Made his money selling weed.
In summary:
– a fund that doesn’t exist
– staffed with complete industry noobs
– bought a company they can’t afford
– run by a bunch of shady characters
The fund that just bought Pornhub owner MindGeek won’t say who’s running the company due to ‘unfortunate stigma,’ report says. Ethical Capital Partners, a Canadian private equity firm set up last year, announced its acquisition of MindGeek Thursday for an undisclosed sum. It also owns sites including YouPorn, Redtube and Brazzers as well as Pornhub, one of the world’s most-visited websites.
ECP told the Financial Times it wanted to be transparent as the company’s new owners.
https://finance.yahoo.com/news/fund-just-bought-pornhub-owner-120000565.html