San Francisco - HotOrNot, the popular site where users can rate photos other users submit of themselves, has been acquired by an investor group connected with Avid Life Media for a reported $20 million, according to TechCrunch.

The site was launched in 2000 by James Hong and Jim Young -- neither of whom will be involved in the site following completion of the deal.

HotOrNot, which counts around 5 million monthly unique visitors, generates money from ads, sales of virtual items and premium subscriptions that allow users to contact one another.

The site's new owners will reportedly create a new entity called HotOrNot Media.

Related Links:
http://snipurl.com/1zkhw (TechCrunch)

http://www.hotornot.com

http://www.avidlifemedia.com