Time Inc. (NYSE: TWX) is buying social shopping site StyleFeeder to add more e-commerce to its magazine mix, starting with InStyle.com. No terms were disclosed, although a source tells the Wall Street Journal, which first reported the deal, that the price ran “well into eight figures.”
StyleFeeder has raised $3.5 million in funding since its 2005 debut, including a round of $500,000 last May from existing investors Highland Capital Partners and Schooner Capital. At the time, StyleFeeder’s founder Philip Jacob claimed that the site was profitable.
Faced with a continuing struggle for ad dollars, publishers are increasingly looking for ways to add e-commerce to their sites. Over the past year, publishers like Conde Nast and Hachette Filipacchi Media U.S have struck deals with invitation shopping site operators like Gilt Groupe and Rue La La.