Hearst Buys Social Shopper Kaboodle

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This is well reported by now, but Hearst has acquired Kaboodle, which started as a kind of personalized shopping list and bookmarking site and has morphed into a hybrid social shopping/networking site. There are various angles on this story:

  • The effort of traditional media to adapt to the online culture
  • The power of social networking

I’ve written about Kaboodle several times in the past. I had thought eBay might be the buyer (given their partnership), but eBay bought StumbleUpon instead. Kaboodle also has a relationship with Conde Nast that reportedly won’t be affected, according to Om Malik’s posting (he reports the acquisition price as $40 million according to an unnamed source).

Local shopping and social shopping are the two trends that are important (mobile is a subset of local) in online shopping. Yahoo!’s recent “ROBO” survey underscores how the Internet drives offline transactions far more than e-commerce (average conversion rates: 2%-3%). ShopLocal is a site that sits in both spaces, local shopping and (more recently) community.

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One Response to “Hearst Buys Social Shopper Kaboodle”

  1. IAC’s Pronto Adds Social Media Features « Screenwerk Says:

    [...] “social shopping” site Kaboodle was recently acquired by Hearst. Indeed social shopping (community) is one of two important trends in shopping, the other [...]

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