HotOrNot.com sold for $20 Million.
San Francisco based HotOrNot, founded by James Hong and Jim Young in October 2000, has been acquired, we’ve heard from multiple source.
The buyers are investors connected with Avid Life Media, and paid somewhere around $20 million for the site. Hong and and Young have been taking money out of the very profitable business all along the way – which we reported was another $20 million or in May 2007. HotOrNot never raised outside funding.