Fast Growing Media Company Combines the Internet’s Leading Original Content and Community, With The Most Relevant Shopping and Advertising Services to Engage Women in All Aspects of Their Lives
San Francisco, CA, September 26, 2007 – Sugar Publishing announced today that it has entered into an agreement to acquire ShopStyle, the leading social shopping website for women who love fashion. ShopStyle will become a wholly owned subsidiary of Sugar Publishing and continue to operate independently at ShopStyle.com. The company also announced today plans to change its name to Sugar Inc. to better reflect its growing reach and expansion over the past year.
ShopStyle is a social shopping website for women who love fashion. On ShopStyle, women can cross-shop thousands of apparel, shoe and accessory brands from big fashion names like Barneys New York to trendsetting boutiques like Lisa Kline Los Angeles all in one place. A pioneer in community driven merchandising, ShopStyle seamlessly integrates fashion, social media and commerce, giving women the tools to interpret the season’s style trends so they can browse, create, share and shop personalized looks. ShopStyle and the Sugar Network attract and engage more than 5 million unique users each month. Using ShopStyle technology, Sugar Inc. will expand beyond fashion and provide integrated shopping across the company’s diversified network in a way that is useful, relevant and compelling to its already engaged readers.
The addition of ShopStyle to Sugar Inc.’s portfolio will change the way women shop online, combining great editorial with purchasing capabilities that make shopping more enjoyable and efficient. After spending its first year building a staff of talented editors, which developed a loyal and highly-coveted audience and ultimately brought in top-quality advertisers, Sugar Inc. is moving into its next phase by adding commerce to its business. Sugar Network readers will begin to see this integration immediately in the form of ShopStyle widgets that will accompany editorial.
ShopStyle, based in Los Altos, California, will continue as a standalone property at ShopStyle.com, enabling it to work closely with Sugar Inc.’s Sugar Network and other leading brand and media partners. ShopStyle employees will continue with the company under Sugar Inc.’s ownership. ShopStyle founder and chief executive officer, Andy Moss, will serve as General Manager of ShopStyle. Financial terms of the deal were not disclosed.
“ShopStyle has assembled the best stores, from nationally known brands to cutting edge local boutiques, and presented them in such a way that women can easily find the items they crave and discover new ways to be inspired by fashion,” said Andy Moss, General Manager of ShopStyle. “As part of Sugar Inc., we look forward to extending and integrating ShopStyle’s technology across multiple platforms to seamlessly facilitate commerce and a sense of discovery in every area that matters to women.”
Brian Sugar, founder and chief executive officer of Sugar Inc., said: “ShopStyle is a perfect match for Sugar Inc. The combination of ShopStyle’s technology, the easiest and most elegant way for women to shop for fashion online, and the Sugar community, gives us the opportunity to merge content, community and commerce to effectively reach women in a way that has never been done before.”
Including its company name change, these two significant corporate moves by Sugar Inc. build on the company’s momentum and strategic growth, which includes the announcement this summer that NBC Universal Digital Media has taken a minority stake in Sugar Inc. and will sell Sugar’s quality advertising inventory in addition to cross - linking editorial content with iVillage, Inc., the online community ranked the #1 online destination for women with 28 unique million unique visitors a month.
"We entered into a strategic alliance with the Sugar Network to further extend our dominance in the online women's space, offering our users an even deeper, richer experience and our advertisers a way to further extend their reach with this highly sought after demographic," said Beth Comstock, president, NBC Universal Integrated Media. "Today's news further illustrates Sugar Inc.'s commitment to providing their educated, engaged and affluent audience with both captivating original content and the useful services they want in a unique and completely integrated way."
About Sugar Inc.
Sugar Inc. is an online media network focused on creating the richest, most relevant online community for trendsetting, passionate and smart women. The company consists of ShopStyle, and the Sugar Network, which includes the insanely addictive flagship website, PopSugar as well as BellaSugar, BuzzSugar, YumSugar, FitSugar, GeekSugar, GiggleSugar, CasaSugar, DearSugar, TeamSugar and FabSugar. Founded in April 2006, the San Francisco based Sugar Inc. overall receives over 5 million unique visitors a month. FabSugar is the 2007 People’s Choice Webby winner for Fashion.