San Francisco based HotOrNot, founded by James Hong and Jim Young in October 2000, has been acquired.
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.
At a whopping $20 million it is clear that the web business was certainly a HOT property 😉
That is the shamefully bad pun out of the way, so let us know your thoughts on this deal.