Hearst Corporation has announced that it will acquire Kaboodle, Inc., a social shopping community where consumers discover, recommend and share products. Kaboodle , which will become a wholly-owned subsidiary of Hearst, will be managed by both Hearst Interactive Media and Hearst Magazines Digital Media unit.
With this acquisition, Hearst will gain a site specializing in social shopping, a combination of online shopping and social networking. Kaboodle’s social shopping community connects people with similar taste, and ties together the entire shopping process, from product discovery to purchase. Kaboodle launched its public beta in 2006 and already has more than 2 million unique monthly visitors.