NEW YORK, Jan. 9, 2020 /PRNewswire/ -- Meredith
Corporation (NYSE: MDP; Meredith.com)—the leading media company for
women reaching nearly 100 million American female
consumers each month and nearly 90 percent of U.S. millennial
women—announced today its acquisition of SwearBy, a digital
platform for word of mouth recommendations designed to crowdsource
and share products that women "swear by" based on their personal
experiences.
"At Meredith, we have a rich community of our own editors as
well as respected influencers who regularly share their favorite
products and services. SwearBy immediately provides us a platform
to host these recommendations as well as offer consumers the
ability to easily store and share their own SwearBys with friends,"
said Meredith President and Chief
Digital Officer Catherine Levene.
"We see enormous potential in promoting this platform across our
network of trusted brands and developing SwearBy into the gold
standard destination for products and services women actually want
when it comes to beauty, style, parenting, lifestyle and
entertainment — all searchable and shoppable."
Levene continued, "As we integrate SwearBy into Meredith
Digital, we plan to expand on its features, functionality,
categories and distribution."
During 2019 Meredith drove over $1
billion in sales for its retail partners through its
affiliate and shopper marketing efforts.
Kate Foster Lengyel, SwearBy's
founder, continues to lead SwearBy in her new role as General
Manager reporting to Andy Wilson,
SVP of eCommerce and Paid Products. She is based in New York City.
"With its trusted content and enormous audiences, Meredith is a
wonderful home for SwearBy," Foster
Lengyel commented. "Meredith understands that women are the
biggest word of mouth agents; they share real and compelling
recommendations with their friends and family all the time,
influencing shopping habits and moving product. It's thrilling to
know that SwearBy will continue to tap into what consumers think
and feel on a much larger scale."
The acquisition price was not disclosed.
ABOUT MEREDITH CORPORATION
Meredith Corporation has
been committed to service journalism for 117 years. Meredith uses
multiple distribution platforms—including broadcast television,
print, digital, mobile and video—to provide consumers with content
they desire and to deliver the messages of its advertising and
marketing partners. Meredith's National Media Group reaches nearly
185 million unduplicated American consumers every month, including
nearly 90 percent of U.S. Millennial women. Meredith is the No. 1
magazine operator in the U.S. and owner of the largest premium
content digital network for American consumers. Meredith's Local
Media Group includes 17 television stations, reaching 11 percent of
U.S. households.
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SOURCE Meredith Corporation