The parent company of infidelity dating site Ashley Madison, hit by a devastating hack last year, is now the target of a U.S. Federal Trade Commission investigation, the new executives seeking to revive its credibility told Reuters.
The breach, which exposed the personal details of millions who signed up for the site with the slogan "Life is short. Have an affair", cost Avid Life Media more than a quarter of its revenue, Chief Executive Rob Segal and President James Millership revealed in an interview, the first by any senior executive since the incident.
"We are profoundly sorry," said Segal, adding that more could perhaps have been spent on security.
The two executives, hired in April, said the closely held company is spending millions to improve security and looking at payment options that offer more privacy.