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Hearst Acquiring Kaboodle

Hearst Corp. has agreed to acquire Kaboodle Inc., a Santa Clara, Calif.-based online social shopping community. No financial terms were disclosed. Kaboodle had raised around $8.7 million in VC funding since its 2005 inception, from firms like Shea Ventures, Garage Technology Ventures and Alpha Group. Angel backers included Ron Conway and Rajeev Motwani. www.kaboodle.com