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Hearst Corp. to Acquire Social Shopping Site Kaboodle
/ August 8, 2007 4:30 pm

New York – Hearst Corporation announced on Wednesday that it will acquire Kaboodle, a social shopping community.

Financial terms of the transaction were not disclosed.

Launched in 2006, Santa Clara, Calif.-based Kaboodle lets its 250,000 registered users rate and review products at various shopping sites, and recommend items to other users.

The site claims more than 2 million unique monthly visitors.

Hearst plans to build Kaboodle pages that feature products from its U.S. magazine titles, like Cosmopolitan and Good Housekeeping, the Wall Street Journal reported.

Kaboodle provides similar services on the website of publisher Conde Nast's Concierge.com.

"We are delighted to become a significant player in the social shopping space and believe that Kaboodle will bring to social shopping what MySpace has brought to social media," said Hearst Interactive Media president Kenneth A. Bronfin.

"This acquisition will enable Kaboodle to further expand its content and service offerings while also significantly increasing its advertiser base."

 

Related Links:
http://hearstcorp.com/news/press_080807.html

http://online.wsj.com/article/SB118653834941191320.html

http://www.kaboodle.com


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