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BizReport : Social Marketing : August 09, 2007
Kaboodle snapped up by Hearst
After its June acquisition of the male-dominated UGO Networks Inc., Hearst Corporation is now buying a social shopping website.
Publisher Hearst is buying Kaboodle Inc., a social shopping community which brings users with similar tastes together to communicate, rate and recommend stores and products. Founded in 2005, Kaboodle is reported to attract 2 million unique visitors a month.
"We understand very well that people want to collaborate while shopping," Hearst Interactive president Kenneth Bronfin told Reuters. "We think this marriage of community with shopping is a big and important prospect."
Many of Hearst’s U.S. magazine titles, including Cosmopolitan and Good Housekeeping, will have their own pages on Kaboodle. Hearst websites currently attract around 30 million unique monthly visitors.
"We think Kaboodle has terrific potential for many of our brands, especially in the fashion, beauty and consumer technology categories,” said Cathleen Black, president of Hearst Magazines. “Our readers will be able to find the products featured in our magazines, shop electronically with their friends and get their feedback."
Tags: Hearst, Kaboodle, social network, social shopping
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