<![CDATA[Gawker: valleywag, jim young]]> http://tags.gawker.com/assets/base/img/thumbs140x140/gawker.com.png <![CDATA[Gawker: valleywag, jim young]]> http://gawker.com/tag/valleywag/jimyoung http://gawker.com/tag/valleywag/jimyoung <![CDATA[HotorNot kindles true love]]> Founders James Hong and Jim Young sold HotorNot earlier this week, but so far, it's business as usual for the operation. Meaning, the site remains a very effective means of getting a date. Check out Daniya here. She's completely smitten with our secret correspondent and man of mystery, Tips. Sadly for Daniya, Tips prefers a different kind of "dating" site.

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<![CDATA[HotorNot sold for $20 million, founders now rated 10/10 with the ladies]]> HotorNot.com, the online "dating service" that lets you rate pictures of the opposite sex based on hotness and then connect with the ones you like, has been bought for around $20 million according to TechCrunch. Valleywag alumna Megan McCarthy pours water on that figure, citing cofounder James Hong: there were "very few people on the deal and there's no reason for us to tell anyone" about the price. Founders James Hong and Jim Young will no longer be involved with the company after the sale. Hong said, "It's time to break up with this girlfriend."

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<![CDATA[Dating site not so hot with advertisers?]]> HotorNot.com, the online dating and rating site run by Jim Young and James Hong, is abandoning its experiment in free, ad-supported user profiles and is reverting back to paid memberships. Is this a sign of failure? According to an email from Young and Hong to past and current members, no. Free profiles led to a flood of spammers that were overloading the website — an outcome that members had predicted at the time. Plausible. And yet plenty of other sites offer free profiles while keeping spammers at least somewhat in check. Could this actually be a tacit acknowledgement that all the assumptions that cofounder Hong made in a blog post announcing the move to make HotorNot free three months ago were, well, wrong? That online advertising is not, in fact, HotorNot's future? The full email after the jump.

Dear loyal HOTorNOT star members,

Based on feedback we got from many of you, we have decided to start requiring star memberships on HOTorNOT again. While many of you saw how going free would be good, you also warned us that this would probably lead to more spammers and fake profiles.

You were right, this is exactly what happened. The spammers got aggressive to the point where they were screwing up the system, even causing the "someone wants to meet you" emails to not be sent for periods as long as 5 days.

We don't really regret trying to make the site free so everybody can use it, but it's clear that most of our users believe an inexpensive paid site works better than a free site filled with spammers.

If you left the site after we went free, we hope you'll come back and join again. If you are still here, we hope turning subscriptions back on has a noticable impact for you, helping you meet more people without having your time wasted by the spammers.

thanks, and have fun!

Your friends,
Jim and James
:)

Update: James Hong has responded in the comments.]]>
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<![CDATA[Hot or Notters at loggerheads?]]> A tipster writers in with goss on potential rumblings within the cerebral confines of Hot or Not:
inside scoop is that Hong and the other guy are having problems, can't agree on the direction of the company. Hong wants to take it much further, make it a friendster/myspace thing and throw everything in such as video, blogs, the whole 9. Engineers are leaving and new ones are hard to come by. They may just sell it if they can't work it out in the next 30 days.
Poor Jim Young, always "the other guy" to James Hong. Though normally we assume that everything we're told is true, we're going to cast doubt on this one. Rumor has Hot or Not making a pleasant pile of cash ($6 million a year). We've already mentioned Hong hiring engineers, and though he's certainly ambitious — and probably feels that pals like Paypaller Max Levchin have done better — bailing out now would seem a little premature.]]>
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