FriendFinder Networks IPO delayed as developers mutiny
Jackson West · 06/26/08 07:00PMWhat's going on over at FriendFinder Networks, née Penthouse Media Group? Apparently the effort to migrate into an online publishing and social networking powerhouse is being hampered by developers dissatisfied with working conditions and an inability to hire new staff — even though supervisor Anthony Previte threatened he could replace the disgruntled employees at a whim, according to a tipster. An internal email obtained by Valleywag features Previte scolding the mutineers for disappearing from work early and being insubordinate. This news might put off the investors necessary to bankroll the company taking itself public — assuming the rumor that the big money has already demurred, delaying the planned $250 million IPO, isn't true.