iBill sold to Penthouse...

[NetRodent]

...for little more than pocket change. Oh, how the mighty have fallen.

http://news.moneycentral.msn.com/ticker/article.asp?Feed=PR&Date=20040322&ID=3515667&Symbol=US:ICPT

[jscott]

craziness! :nuts:

[sweet7]

will this have any negative repercussions for current iBill users or potential iBill users?

[executive]

Originally posted by sweet7
will this have any negative repercussions for current iBill users or potential iBill users?

There may be some obscure negative repercussions, but the positive effects of this deal is unlimited.

Since the company was acquired by PENTHOUSE, a some 40-year old company with a brand image as large as PLAYBOY's, this is a fantastic thing. Not will will iBILL be able to leverage the name that PENTHOUSE has, but PENTHOUSE will be able to leverage the extensive database of consumers that iBILL has. How does this affect you at the end of the day? Easy, a better, more understanding relationship between credit billing and adult-entertainment web sites.

A true win-win situation. Considering that NO BANK in their right mind does billing for adult websites because of the high charge back rates, the cost of the company is reasonable. Let's face it, Intercept is not a dumb group of people, I'm sure there is more to this than meets the eye.

So at the end, iBill will continue to grow on it's 2,000,000,000+ in billing transactiosn every year and so will Penthouse. Very good in my opinion...

[Mister X]

^^^ Can you say spam anyone? Lol.

It's probably a bit scary for anyone with iBill seeing as the company has been rumoured to be on the edge of folding for at least a year and now they get picked up by a company that has had some pretty huge financial troubles of it's own. For sure I won't rush to sign up until I'm pretty damn sure that there are no more problems. On the plus side they have the Penthouse name going for them. But will that have any drawing power with webmasters?

[executive]

LOL, not spam, just giving my thoughts on a very large acquisition in an industry that seems to be run by a group of inefficient people.

Just a little 101 from waht I understand, the company that is bankrupt is General Media Communications ("PENTHOUSE MAGAZINE") not the parent company, Penthouse International ("PI"). PI seems to be more of a holding company than a porn distributor such as Penthouse Magaizne is. I like to think of Penthouse International going in a way that's going to consolidate the porn industry. Speaking about consolidation, let's think of the actions already taken place:
1. PI is parent of Penthouse Magazine
2. PI is parent of iBill
3. PI is using the Penthouse Magazine leg to license out its Penthouse mark for use in live entertainment clubs.
4. Penthouse Magazine is building a huge resort in Mexico.

Putting this all together, they have (1) an online division, (2) a print division, (3) a live-entertainment division, and now, a (4) a billing division. THis is quite inclusive and impressive. I may be the first, but I have faith in this...




Originally posted by Mister X
^^^ Can you say spam anyone? Lol.

It's probably a bit scary for anyone with iBill seeing as the company has been rumoured to be on the edge of folding for at least a year and now they get picked up by a company that has had some pretty huge financial troubles of it's own. For sure I won't rush to sign up until I'm pretty damn sure that there are no more problems. On the plus side they have the Penthouse name going for them. But will that have any drawing power with webmasters?