HotOrNot Acquired For $20 Million

TECH CRUNCH -- Feb 11 -- 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.  Their annual revenue is estimated to be around $5 million, with $2 million in profit. According to Comscore, the site has around 5 million monthly unique visitors and 200 million page views. The investors are creating a new company, called HotOrNot Media, and they may be acquiring more properties as well. FULL ARTICLE @ TECH CRUNCH