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Looks like HotorNot has sold for a reported $20 million to Avid Life Media. That seems a bit high but it’s going to take some more sleuthing to find out what the actual number is.

I met James Hong a few years ago at a conference and we briefly talked about different revenue model options. At that time he was pondering the idea of changing over from paid to free.

I’m working with a virtual gifting company and have learned a lot about how HotorNot has made millions each year by allowing members to send each other virtual roses, some of which cost up to $10.

Who knew that clicking random pictures when you’re bored would be so entertaining, at least for two minutes. Ok, I’m bitter, I’ve had a photo on HotorNot for years and my average score never broke 6.2.

Love the quote from James:

We’ve been working on HotOrNot for seven years now, It’s time to break up with this girlfriend.

All hail HotOrNot Media. PaidContent has more, as does TechCrunch.