Hearst Corporation announced that it will acquire the social shopping community site Kaboodle.
"Kaboodle is a rapidly growing business in a distinctive and fascinating space," said Bronfin. "We are delighted to become a significant player in the social shopping space and believe that Kaboodle will bring to social shopping what MySpace has brought to social media. This acquisition will enable Kaboodle to further expand its content and service offerings while also significantly increasing its advertiser base. In two short years, Manish and his team have created a very attractive business."
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