March 26, 2008 06:00 ET
Hearst Magazines to Acquire Answerology
Online Q&A Community Platform to Be Integrated Into Hearst's Sites
NEW YORK, NY--(Marketwire - March 26, 2008) - Hearst Magazines today announced that it will
acquire the assets of Answerology, a question and answer platform focused
on content and community. The announcement was made by Cathleen P. Black,
president, Hearst Magazines and Matthew Milner, Answerology's founder.
Answerology (www.answerology.com) will be managed by Hearst Magazines
Digital Media. Effective immediately, Milner will become a full-time
employee of Hearst Magazines and will serve as VP, community and social
media, overseeing community for the company's digital media unit. He will
report to Chris Johnson, VP, content and business development, Hearst
Magazines Digital Media. Terms of the deal were not disclosed.
Launched officially in 2005, Answerology is operated in New York City with
an overseas technology team. The site and core technology enable members
to pose questions to a targeted community around relationship-related
topics such as dating, family, career, and marriage. Community members can
ask a question anonymously and select the demographic they'd like to get
responses from (e.g. 22 - 25-year-old Male Intellectuals from Boston). The
premise of the site is that the most valuable answers for "life questions"
come from the community, more specifically, people with relevant background
and experience. Questions are posted on the site and emailed to registered
users matching the target demographic. All answers are rated and frequent
participants with high rankings are highlighted in the community.
With this acquisition, Hearst will substantially advance its online
community profiles and help bridge the gap between editorial expertise and
community participation on its sites. Answerology's Q&A technology will be
integrated expeditiously into Hearst's portfolio of web sites.
"Service journalism is all about helping people find answers to their
questions, from trusted experts. That's what we do in our magazines and on
our magazine-branded web sites every day. Answerology offers us a new type
of service journalism, using a 'wisdom of the masses' model built on the
expertise of users who are like you," said Johnson. "Matt has done a great
job building a robust online community based on the advice of real people
on particular topics of interest -- something we think will translate
incredibly well into Hearst's web sites and magazine brands."
"It's been tremendously rewarding to build Answerology as a community where
users can tap into the wisdom and objective advice of thousands of people
from around the globe," said Milner. "I am excited to be bringing my
knowledge of community and Q&A technology to Hearst's diverse communities
of consumers looking for answers and advice on topics that matter to them."
Based in New York City, Answerology was founded by Matthew Milner, a banker
and author, initially as a promotional effort for his romantic comedy
novel, Guy Critical. As the site built an audience, Matthew invested in
developing the platform and renamed it Answerology. With its proprietary
Q&A platform, the Company now aims to help people improve all their
relationships -- with their romantic partners, and with their family,
friends and colleagues. It's all about having a better life through shared
About Hearst Magazines Digital Media
Launched in March 2006, Hearst Magazines Digital Media, a unit of Hearst
Magazines, is dedicated to creating and implementing the digital online and
mobile strategy for Hearst's magazine brands and other sites which serve
the company's consumers and audience. The unit has launched or re-launched
18 web sites and nine mobile sites for brands such as Cosmopolitan,
Esquire, Good Housekeeping, Marie Claire and Seventeen, as well as
non-magazine brand sites such as TheDailyGreen.com, MisQuinceMag.com and
MyPromStyle.com. During this time, Hearst Digital has also acquired the
eCrush Network (eCRUSH.com, eSPIN.com), Kaboodle.com and RealAge.com to
round out its growing portfolio of interests for teens and women.