SOURCE: ThisNext

February 01, 2010 03:00 ET

ThisNext Acquires Social Shopping Site, Stylehive, Launches New Parent Company and Raises Series C Funding

SANTA MONICA, CA--(Marketwire - February 1, 2010) - ThisNext today announced the acquisition of Stylehive, a leading fashion and beauty social-shopping site. The company also launched a new parent company, Curatemedia, a corporate brand that will operate ThisNext and Stylehive.

"These announcements strengthen the company's leadership position in social shopping and are the first steps toward developing a network of vertically focused social shopping sites," said Scott Morrow, Curatemedia CEO. "Social shopping is about enabling a lifestyle though products. We are proud to have pioneered this idea and are excited about bringing social shopping to other verticals."

Stylehive is a fashion and beauty community dedicated to uncovering the styles, trends and products that shape the world of fashion and beauty. With over 600,000 registered users, the Stylehive community reveals the best new products from across the Web. Editors and bloggers provide an editorial layer on top of the crowd sourced content, providing comprehensive coverage.

"The corporate activities announced today are a reflection of the success and growth of ThisNext and the maturation of social shopping as a category," Morrow said. "In 2009, we saw companies in the market with unclear value propositions, failed business models and poor execution go out of business. To the contrary, we have emerged stronger, better and in a position to lead the category as the largest independent social shopping property. The market opportunity is enormous and we expect to aggressively grow our business with additional acquisitions in 2010."

The mission of Curatemedia is to develop brands that help consumers discover and shop for products that they will love. By connecting shoppers to communities of passionate consumers, Curatemedia helps answer the simple question, "What should I buy?"

ThisNext raised a Series C round of funding from Clearstone Venture Partners, Anthem Venture Partners and Lightspeed Venture Partners. The investment will be used to develop additional shopping tools, facilitate commerce functionality and to fuel the growth of Curatemedia into new verticals and categories.

About ThisNext

Founded in 2006 by a team of seasoned Internet entrepreneurs, ThisNext changed the way people discover and shop for products online. Santa Monica based, ThisNext serves millions of consumers every month as the Web's best place to discover the products, brands, trends and people that shape the future of what's next.

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