Hearst Buying Shopping Recommendation Site Kaboodle

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Hearst has announced its second online acquisition in two weeks: first it bought UGO for between $100-$150 million, and now it is buying shopping recommendation site Kaboodle, reports WSJ. Terms of the deal weren’t disclosed. (Updated: Om says the price was around $40 million).

The startup, based in Santa Clara, CA, last year received $5 million in first round funding, from a syndicate of 10 investors, from Georges Harik, former director of Google Labs and an early Google employee, to Ron Conway. It started as a general sharing service, where people could save their search results from other sites, for other users to review

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maxciccotosto

Congratulations to the Kaboodle team. This is some great market validation for the social shopping space. As co-founder of Wishpot, a personal and social shopping utility, I firmly believe we have barely scratched the surface of the opportunity and innovation for social shopping.

Max Ciccotosto
Co-founder and CEO
http://www.wishpot.com

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