Olivia dates rich older men in exchange for gifts and money. In her mind, and in the minds of tens of thousands of other young Toronto women who have struck up similar for-profit relationships, it’s much more than a commercial exchange. Though Steve later provided documentation to prove he was an active user of the site, he lied about a number of personal details. As it turns out, “Steve” was an acquaintance of Noel Biderman, now former CEO of Avid Life, the parent company of Established Men and Ashley Madison.
Toronto sugar daddies earn a self-reported annual income of roughly 0,000 and have an average net worth of .3 million.They include senior executives, entrepreneurs, and people in the finance or sales and marketing sectors.Close to 40 per cent of the men on SeekingArrangement are married, and, in recent years, their average age has dropped to 40—defying the Hugh Hefner stereotype.Last year, a friend of Olivia’s told her she was seeing a man she’d met on Seeking Arrangement.com, a match-making site designed to facilitate the pairing of wealthy older men with attractive young women.Over the past decade, many such websites have launched, helping women negotiate gifts, allowance, tuition, mentorship or simply a night out, in exchange for their companionship and, often, for sex.Relationships are dubbed “mutually beneficial arrangements.” Brandon Wade, the founder and CEO of Seeking Arrangement, is a 42-year-old once-divorced MIT grad.