Following publications like Vogue and DailyCandy that have already made partnerships with e-commerce sites or launched some of their own, Time Inc. has made its way into e-commerce with the acquisition of “personal shopping engine” StyleFeeder, announced today.
As The Wall Street Journal pointed out today, the deal comes at an ideal time for Time, which lost 26 percent of its advertising revenue — its main source of income — during the first nine months of 2009, compared to a year earlier.
Time plans to incorporate StyleFeeder into its fashion magazine InStyle‘s Web site, allowing its e-commerce technology to power shopping on the site. Said Fran Hauser, president of digital for Time’s Style & Entertainment Group:
“This is a strategic step in building on our digital success. Our brands reach millions of consumers through our websites, social media and mobile products. StyleFeeder’s e-commerce technology will open the door to new transactional revenue streams and give the InStyle community an experience they can’t find anywhere else online.”
The acquisition also comes after a difficult period for Time Inc. In response to falling revenues, the magazine publisher cut staff through buyouts and layoffs this fall, and shuttered publications including InStyle Weddings.
Full release about the StyleFeeder acquisition after the jump
Time to Acquire StyleFeeder –Wall Street Journal
Previously: Time Inc. Shutters InStyle Weddings