Hearst Goes Shopping, Buys Kaboodle
In their effort to gain leverage in the online advertising world, the Hearst Corporation, who recently acquired men’s media site UGO, has acquired social shopping site Kaboodle.
This will give Hearst many cross-promotional opportunities for all of their properties as the site has e-commerce features.
The details of integrating properties have not been finalized. Hearst Interactive Media president Kenneth Bronfman said, “There is a wealth of ideas on what we can do together. What we do in print is now online in a community way.”
There will certainly be a push to develop the advertising aspect of the site. Hearst will help Kaboodle’s sales division to sell the shopping site as a singular media buy and along with other publishing properties.
Although Kaboodle becomes a wholly-owned subsidiary of Hearst, the company, according to Bronfman will not object to the site creating new relationships with various other media sites. He was quoted to say, “They will do what they think is best to build the company, not beholden to Hearst.”
The terms of the deal were not disclosed.
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