Get ready for a slew of social shopping deals. Hearst announced today that it acquired Kaboodle. According to one report, the price was over $30m.
Congrats to Manish and his team!
As my readers know, I’ve never fully gotten on board the social shopping train. I think there’s a ton of potential, especially for female focused social shopping sites and for social networks like FaceBook which have the social part already ‘figured out’ and can layer the shopping part on top of it. Furthermore, Jellyfish has made incredible strides towards social shopping with an entertainment/game show focus.
Read my previous coverage of Kaboodle.
I never really understood the financial model for kaboodle. Can anyone shed any light on it?
Congrats guys!
Brian, any ideas on what Hearst’s plan are for Kaboodle? I sent Manish a congratulatory email after it happened but have not heard from him. I too, like yellow281, have always wondered where the golden egg of profit sat with Kaboodle. Obviously it was in attractive enough to investors to command such a nice price!!!
I was proud when I heard of this because although my work with the team at Kaboodle was short they were a great bunch of people. Kudos to the Kaboodle team!