Pornhub is bought by a Canadian private equity firm

Post author:California18
Post published:March 17, 2023
Post category:News
Post comments:0 Comments

The operator of pornhubthe controversial but very popular adult websitewas sold to a Canadian private equity firm.

Ethical Capital Partners (ECP), headquartered in Ottawasaid Thursday that it had bought MindGeek, the company that owns Pornhub and several other pornographic websites.

The terms of the agreement were not disclosed publicly.

Pornography is a billion dollar industry that accounts for 35% of all internet traffic — but who protects the people they profit off?

Money Shot: The Pornhub Story is now on Netflix pic.twitter.com/LUNkLY7o9I

—Netflix (@netflix)
March 15, 2023

ECP Chairman Rocco Meliambro said the equity firm focused on identifying properties with the potential to “create attractive returns over a compelling time horizon.”

“We believe the adult entertainment industry is being influenced by evolving public opinion and regulatory approaches, and the time is right to evolve this business,” Meliambro said in a statement.

Pornhub, one of the most visited sites on the planet, has generated controversy in recent years amid claims that its owners have profited from child sexual abuse material, rape videos, revenge pornography and other non-consensual content.

Mastercard and Visa stopped processing payments for Pornhub in 2020 after a New York Times op-ed described the site as “rape video infested,” a move welcomed by porn advocates but criticized by adult performers. .

pornhub

MindGeek, which was founded in Montreal but is now based in Luxembourg, has been the subject of several lawsuits from women who accused the company of knowingly hosting sexual content involving them without their consent.

In 2021, MindGeek settled a lawsuit in California brought by 50 women who claimed they had been victimized by the site.

MindGeek has said that it has a zero tolerance stance towards non-consensual content and is vulnerable to bad actors uploading content just like other online platforms. The company has introduced several measures to deal with the proliferation of illegal content, including verification of users who upload material to the site.

A documentary about Pornhub, Money Shot: The Pornhub Story, debuted this week on Netflix, reviving the debate over the website and the regulation of sexual content online.