Toronto firm buys Hot or Not?

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Mike Arrington is reporting at TechCrunch that the dating site Hot or Not has been acquired for $20-million (apparently in cash) by a Toronto-based company called Avid Life Media. Since I had never heard of Avid Life Media before, I found this kind of interesting, so I looked around a bit to see what I could find out about it. There’s not a lot of history about the company, but it bought another dating site — Ashley Madison — last fall for an undisclosed sum. Ashley Madison (friends tell me) is a site that specializes in catering to married people who want to find partners other than their spouses.

My impression — and it’s only an impression — is that Avid Life Media somehow emerged from AshleyMadison.com, since Avid’s current president, Noel Biderman, has also been the chief operating officer of AshleyMadison since February of 2007 (according to his LinkedIn profile). Before that he was a vice-president at JumpTV.com for about three months, and before that it says he worked for an Internet company called Move. Avid also bought a Toronto-based green network called FiveLimes last summer for an undisclosed sum.

Comments (7)

  1. discus wrote::

    Move is move.com on the NASDAQ. Avid Life Media has loose ties with Kaboose (KAB on the TSX). FiveLimes was founded by Chris Sukornyk and Raja Bhatia. Chris is now working at Kaboose (as part of the Bubbleshare acquisition) and Raja is running technology and engineering for Avid Life Media. This is the 4th or 5th acquisiton for Avid. There is money in the Canadian capital markets!

    Monday, February 11, 2008 at 10:33 pm #
  2. mathewi wrote::

    Thanks for the info.

    Monday, February 11, 2008 at 10:43 pm #
  3. sukornyk wrote::

    Actually Avid didn't emerge from Ashley Madison….Avid acquired Ashley Madison this past summer. Avid purchased my startup, Fivelimes, in September 07.

    And just a brief personal update :) I just recently left my role at Kaboose to jump back into the startup world.

    Tuesday, February 12, 2008 at 9:35 am #
  4. mathewi wrote::

    Thanks, Chris — best of luck with the new venture.

    Tuesday, February 12, 2008 at 10:54 am #
  5. homeguru wrote::

    Avid also purchased http://www.HomeRenovationGuide.com in summer of 2007, an online directory and home improvement resource.

    There is money in the Canadian market, and there is money to be made online… go figure! If only the large Canadian media companies could figure that out.

    Thursday, February 21, 2008 at 11:07 am #
  6. Jason wrote::

    HotOrNot… there goes another great site down the drain. Livechat has been disabled forever already after merger…which was the best feature in site. Too bad… Will miss it. USED to be a great way to meet people

    Friday, May 30, 2008 at 5:16 am #
  7. Jason wrote::

    HotOrNot… there goes another great site down the drain. Livechat has been disabled forever already after merger…which was the best feature in site. Too bad… Will miss it. USED to be a great way to meet people

    Friday, May 30, 2008 at 9:16 am #

Trackbacks/Pingbacks (4)

  1. VentureBeat » James Hong, on selling HotOrNot on Monday, February 11, 2008 at 9:53 pm

    […] niche brands with highly engaged users.” One of those brands is Ashley Madison (more details here), an extramarital dating site with the tagline “when monogamy becomes […]

  2. VentureBeat » James Hong, on selling HotOrNot on Monday, February 11, 2008 at 9:53 pm

    […] niche brands with highly engaged users.” One of those brands is Ashley Madison (more details here), an extramarital dating site with the tagline “when monogamy becomes […]

  3. HotOrNot Acquired for $20 Million - Technozzle on Tuesday, February 12, 2008 at 12:53 am

    […] on VentureBeat, GigaOM and Mathew Ingram. addthis_url = ‘http%3A%2F%2Ftechnozzle.com%2F%3Fp%3D98’; addthis_title = […]

  4. […] Seems like they are still on an acquisition spree.  It’s being reported on TechCrunch and here that they just picked up Hot or Not.   Seems like a smart play as it will have a perfect tie in […]