BURBANK, Calif. - Bob "YNOT Bob" Rice has sold his stake in YNOT Network to longtime business partner Gary Grigoryan, the company announced Friday.
Grigoryan, who was an equal shareholder with Rice before the transaction, now is the sole owner of YNOT Network. Financial terms of the deal were not disclosed.
Operations of YNOT Network remain under the control of company President Connor Young.
Rice, who had not been active with the company for some time, said he plans to focus on growing the adult affiliate program LightspeedCash.
"I have been away for a bit and left the helm of YNOT in Connor's more-than-capable hands," he said in a statement. "Since leaving, I have launched a new affiliate program (IncredibleDollars) and then teamed up with LightspeedCash. It was simply time for me to release my shares and responsibilities in YNOT and move on to focus more on my current business at hand. I continue to wish YNOT the best and will always be around if they need any help."
Young said Rice's presence will be missed.
"Bob will definitely be missed here at YNOT," he said. "He was a part of the company for a long time, not just as an owner but also as the face of the company. I wish both him and LightspeedCash the best. I know Bob is fiercely proud of this company and the role it has played in shaping the adult Internet business, and that's a tradition we plan to continue to carry out here at YNOT for a long time."
Established in 1996, YNOT Network is a leading provider of services for online adult-entertainment businesses. Its flagship website, YNOT.com, is a resource center for adult-industry professionals, featuring daily news, community forums and a constantly updated service directory.
"It's been a great ride, and I'm proud of the accomplishments YNOT has made during my ownership," Rice said.
