HotOrNot the company which never received external funding has been acquired for $20 Million. HotOrNot was founded by James Hong and Jim Young in October 2000 and makes its revenue from advertising, virtual flowers and a premium fee when users want to connect with annual revenue estimated to be around $5 million and with that a $2 million profit per annum.The buyers are investors connected with Avid Life Media and have acquired it for $20 million even though Hong and and Young have been taking money out of the very profitable business all along the way which is reported to be around $20 million.

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