Killing Kittens: British government takes stake in sex party company


London
CNN Business

British taxpayers now officially own shares in a company that organizes sex parties.

A government loan granted to Killing Kittens to help it through the pandemic has been converted into an equity stake in the company, the British Business Bank confirmed on Tuesday.

Killing Kittens, which hosts female-led adult parties in cities such as London and New York, has secured investment in 2020 from the UK government’s Future Fund, which is designed to help startups survive the coronavirus pandemic.

Founded in 2005 by Emma Sayle, the company hosts parties for members in exclusive venues that challenge “established gender stereotypes,” according to the website. It registered a 330% increase in traffic to its website during coronavirus lockdowns and now calls itself “the fastest growing adult social network”.

At one point, the pandemic forced the company to move all of its events and workshops online, accelerating existing plans to enter the sex tech industry — a burgeoning sector that includes products and companies focused on enhancing sexual experiences. .

Killing Kittens now has a mobile app that allows users to meet “for casual dating, friendship, kink partners or a long-term relationship,” according to a description on its website.

The government’s Future Fund previously granted the company a loan of £170,000 ($221,780). Funded from tax revenues, the program typically provides debt financing of between £125,000 ($153,000) and £5 million ($6.1 million) to businesses, provided they match at least financing from private investors.

The government has taken participations in many other companies through the fund. As of March, 337 convertible loans it had provided to companies across the country were also converted into shares after those players raised more money.

Asked about the investment in Killing Kittens on Tuesday, a British Business Bank spokesperson said that “applications meeting all eligibility criteria received an investment.”

“The Future Fund used a set of standard terms with published eligibility criteria,” the representative added in a statement. “The process provided a clear, efficient way to make funding available as widely and as quickly as possible without the need for lengthy negotiations.”

Killing Kittens did not immediately respond to a request for comment.

After the initial investment in 2020, Sayle joked that she had never seen Boris as a sleeping partner, referring to British Prime Minister Boris Johnson.

— Eoin McSweeney and Hanna Ziady of CNN contributed to this report.

Leave a Comment