Although Wales himself had made his personal fortune as a futures trader in Chicago in the 1990s, he wasn't the one funding Nupedia. This was done through one of Wales's less altruistic ventures, a Web portal called Bomis.com that featured, among other items, soft-core pornography.
The company behind Nupedia, Bomis, Inc., has a great deal of experience designing and promoting high-traffic websites. We intend to put that experience (and the profit from that!) behind the Nupedia project to ensure it is a success.
Using the Bomis site, Wales and Larry Sanger then launched their first online encyclopedia, Nupedia.
Using some of the profits from an adult content site that he had helped start (Bomis), Wales launched Nupedia.
Nupedia launched in March 2000 by Jimmy Wales and Larry Sanger. ... Wales's company Bomis, an Internet search portal and a vendor of online 'erotic images' (featuring the Bomis Babe Report), picked up the tab initially.