Meredith Corporation Acquires SwearBy, A Digital Platform For Recommendations
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.
SOURCE Meredith Corporation
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