Meredith Corporation (NYSE: MDP), a media company for women, acquired SwearBy, a New York City-based digital platform for word of mouth recommendations designed to crowdsource and share products that women “swear by” based on their personal experiences.
The amount of the deal was not disclosed.
SwearBy will give Meredith a platform to host recommendations as well as offer consumers the ability to store and share their own SwearBys with friends. The company will integrate SwearBy into Meredith Digital, expand on its features, functionality, categories and distribution.
Following the close of the deal, Kate Foster Lengyel, founder, continues to lead SwearBy in her new role as General Manager reporting to Andy Wilson, SVP of eCommerce and Paid Products.
Meredith uses multiple distribution platforms—including broadcast television, print, digital, mobile and video—to provide consumers with content and to deliver the messages of its advertising and marketing partners. Its National Media Group reaches nearly 185 million unduplicated American consumers every month, including nearly 90 % of U.S. Millennial women. Meredith’s Local Media Group includes 17 television stations, reaching 11 % of U.S. households.
FinSMEs
10/01/2020