QVC Buys Classifieds Company Oodle
Oodle is a classifieds company that was founded in 2005. Oodle moved from being an aggregator to focus on the social classifieds. Oodle is powering the Facebook Marketplace now.
Oodle became cash-flow positive and became profitable last year according to TechCrunch. Home-shopping channel QVC has acquired Oodle. Oodle CEO Craig Donato said that “no one does social shopping better than QVC.”
QVC is acquiring all of Oodle’s assets and the deal is expected to close by December 31st. Oodle raised around $23 million in outside funding and they also operate a network of online markets on Facebook, iOS, and Android. Oodle receives around 15 million monthly unique visitors. The Oodle Pro social advertising product is used by corporations like AutoTrader.