geek love
James Hong, who recently sold rating-and-dating site HotOrNot, has
announced his engagement to girlfriend Julia Zhang. I wondered if he'd dropped down on one knee at Max Levchin's wedding over the weekend, where he served as best man, but Hong tells me he popped the question a few weeks ago. Hong also celebrated his 35th birthday earlier this week. I guess this settles the question, James: Definitely hot.
spam
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.
acquisitions
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."
online advertising
The premise behind Facebook's Social Ads is the notion that users of the social network will declare their brand loyalty on the site, and thereby opt into targeted ads from some of their favorite corporations. Starbucks, despite
a recent dip in store visits after a price hike, serves 44 million customers a week. So you'd think a few of those customers might have admitted to being fans of Facebook, right? Wrong. Facebook's
Starbucks product page has all of 59 fans. I think there were that many people in my local Starbucks the last time I bought a latte.
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bubblewatch
Writes HotorNot founder James Hong
on BitTorrent's party this week at Fluid, where rapper Sean Kingston took the stage:
Last night, almost as if to out-LA LA, SF company BitTorrent had a small party at fluid to celebrate the launch of their CDN network (brilliant business move!). They apparently arranged in conjuction with a local radio station for Ashanti and Sean Kingston to perform to the tiny crowd. I took a picture of BitTorrent's founders Bram and Ashwin to memorialize the moment, sensing that it denoted SOMETHING.. whether it's a sign that the bubble is getting bigger, or the more likely conclusion that techie work is now getting more main stream and therefore a lot cooler remains to be seen! :)
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party report
The week of Web 2.0 Summit, with the industry converging on San Francisco, seems like as good time as any to throw a shindig. Everyone's in town for the schmoozefest, so you might get to meet quality people who normally avoid the party scene. While my boss
hit the Reddit party, I hopped around town to some of the other events. Three, in fact. VC firm True Ventures held a gathering at their offices on Pier 38, a tech industry jam session — for charity, naturally — occurred across town at the Rickshaw Stop, and VCs Eric Chin and Mike Jung held a private party at Fluid for attendees of their intimate Alpha dinners in Woodside. Who needs sleep this week?
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hotornot
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 b
log 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.
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hot or not
James Hong, founder of the popular rating/dating service
Hot or Not blogs about the future of his company's strategy and products. The short version: social bookmarking,
Hot. Subscription dating:
Not. It's difficult to question the success
Hot or Not has brought James Hong (and his partner
Jim) — reportedly "multi millions of profits per year" — but it's much easier to ask: did Jim and James exploit a fad at the right time, and now are playing catch up to the newest fad? The lengthy explanation of how the improved market data and directed advertising of a social network is a business (No way!) and that users like social applications (Get out!) suggest so. Transforming a successful business is
Hot; mimicking every other business is
Not.