QVC Makes Strategic Investment to Fuel Social Commerce

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Dec 05, 2012, 03:00 ET

WEST CHESTER, Pa., Dec. 5, 2012 /PRNewswire/ -- Today, QVC, Inc., a global leader in video and e-commerce retail, announced that its wholly owned subsidiary, California Voices, LLC, has signed a definitive agreement to acquire substantially all of the assets of Oodle, Inc., the social commerce leader that runs the Oodle Marketplace application on Facebook. The acquisition is expected to close by December 31, 2012.

"The QVC shopping experience is fundamentally social in nature," said Claire Watts, QVC U.S. CEO. "With this acquisition, we can fuel our evolving social commerce experience. Oodle brings a great team that shares our values and passion for creating a rich customer experience."

"No one understands social shopping better than QVC," said Craig Donato, CEO and co-founder of Oodle. "Bringing our teams together will help elevate and evolve QVC's online shopping community."

Oodle is a social marketplace where users buy, sell, and give with friends, friends of friends, neighbors, co-workers, and other people in their local community. Oodle's Marketplace, which has over 11 million unique monthly users, is available on Oodle, Facebook, and iPhone, iPad, iTouch, and Android devices.

ABOUT QVC

QVC, Inc., a wholly owned subsidiary of Liberty Interactive Corporation (NASDAQ:LINTA, LINTB), is the world's leading video and ecommerce retailer. QVC is committed to providing its customers with thousands of the most innovative and contemporary beauty, fashion, jewelry and home products. Its programming is distributed to approximately 250 million homes worldwide through operations in the U.S., Japan, Germany, United Kingdom, Italy and a joint venture in China. West Chester, Pa.-based QVC has shipped more than a billion packages in its 26-year history and the company's website, QVC.com, is ranked among the top general merchant Internet sites. QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc.