Jeffrey Tinsley’s Bel Air estate (Twitter/Oppenheim Group)
Jeffrey Tinsley, founder of social networking site Classmates.com, is searching for someone to buy his home tucked in the hills of Bel Air.
He listed the seven-bedroom, seven-bathroom home on Ashdale Place for $7.5 million.
Tinsley, who rebranded Classmates.com into MyLife.com in 2009, purchased the 6,545-square-foot property in 2000 for $2.7 million, according to property records.
He spent more than $1 million on the home’s outdoor four-level entertainment area with a custom fireplace and TV. The estate also features a large children’s play yard, pool, spa and movie theater.
The home has been on the market since February 2016, when it was listed for $9 million. In September, it was re-listed by agent Jason Oppenheim of Oppenheim Group with a 16 percent price cut, for its current ask of $7.5 million.
The home has received several strong offers, and a deal is expected to close soon, Oppenheim said.
Other homes in the area have seen price chops. A neighboring 7,000-square-foot home, which includes unpermitted additions of 4,727-square feet, has a listing price of $5.5 million and is currently pending a sale, Zillow shows. That Ashdale Place home hit the market in September, originally listing for $6.6 million.
While Tinsley waits for his home to sell, he is also riding out myriad legal battles. A complaint was filed against MyLife.com and Tinsley in U.S District Court in 2015 alleging the company’s violation of California’s anti-spam law. The CEO of MyLife.com was also hit with a class action suit in 2011 for deceptive emails and fraudulent billing practices, but a California federal judge dismissed the suit later that year.
The dismissal came on the heels of Classmates.com agreeing to pay out more than $9.5 million in a class action settlement for false advertising, according to court documents. Users said they had received emails informing them that someone was looking for them. In order to find out who, they allege they had to sign up and pay for a membership — only to find that no one was waiting for them. The recent complaints echoed those allegations.
Tinsley, a serial entrepreneur, also founded GreatDomains.com, a website allowing visitors to register domain names for resale, which was acquired by Virginia-based internet company VeriSign for $100 million in 2000.