QVC to Acquire Ooodle

QVC announced that it has signed an agreement to acquire Oodle, an online classifieds marketplace. QVC says the Oodle Marketplace has over 11 million monthly users. It can be accessed on the Oodle website, as well as Facebook and through iOS and Android apps.

Claire Watts, QVC U.S. CEO, said in a statement, "The QVC shopping experience is fundamentally social in nature. With this acquisition, we can fuel our evolving social commerce experience. Oodle brings a great team that shares our values and passion for creating a rich customer experience."

Oodle says on its blog that it is profitable and cash flow positive. TechCrunch says Oodle uses Facebook authentication to add real identities to its social classifieds listings.

Image: Oodle