Hearst Corporation announced it will acquire Kaboodle Inc., a "social shopping community." Kaboodle will become a wholly-owned subsidiary of Hearst and will be managed by both Hearst Interactive Media and Hearst Magazines Digital Media unit. Terms were not disclosed.

Kaboodle says its social shopping community connects people with similar tastes and ties together the entire shopping process, from product discovery to purchase. The service helps users find the best prices and get discounts on popular products. Members create and join groups; share advice, feedback and product suggestions; and personalize their profiles with polls and other widgets.

Kaboodle was founded in 2005 by Manish Chandra, Keiron McCammon and Chetan Pungaliya. It launched its public beta in 2006 and has more than 2 million unique monthly visitors.

http://www.kaboodle.com