QVC Bets on Social Shopping with Oodle Acquisition
December 07, 2012
Video and ecommerce retailer QVC has signed a definitive agreement to acquire Oodle, the company that operates the Oodle Marketplace app on Facebook. The deal is expected to close before the end of the year, and will provide an exit for Greylock Partners, JAFCO Ventures, Redpoint Ventures and individual investors, who have provided Oodle with a combined $26.1 million in venture funding. Through the transaction, QVC will be able to solidify its position in the social commerce space.