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NexTag, the big comparison shopping site, is buying product reviews site Wize. Wize aggregates product reviews from around the web and provides product recommendations based on specific attributes people say they are looking for in a product (i.e. “vacuums” for “suction strength”). NexTag says the acquisition will allow it to provide additional information about products to its visitors.
In a release, the company refers to the deal as “one of a series” of strategic moves designed to “expand and diversify the company’s offerings in the competitive online shopping segment.” NexTag hired Jeffrey Katz as CEO in March to lead that expansion. Katz was the founding CEO of Orbitz and also spent several years as CEO of educational toy firm LeapFrog Enterprises,
No financial terms of the acquisition were released. Five-year-old Wize had raised $4 million in a first round of funding three and a half years ago.