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Time Inc. has acquired StyleFeeder Inc. and plans to add the Cambridge-based company’s online shopping recommendation website to its InStyle family of brands, the New York-based media company announced Tuesday.
Terms of the deal were not disclosed, but the Wall Street Journal, citing an unnamed source, said Time paid a price “well into the eight figures.”
Founder and CTO Philip Jacob said Stylefeeder’s team of seven will remain intact in Cambridge. Stylefeeder will continue as an independent property, and the company will be working to integrate its technology into Time’s InStyle properties — including a recommendation engine, a commerce engine providing transactional revenue streams and a location-based trend tracking function.
Jacob said some hiring is likely, but probably not a major push. “The spirit and the kind of organizational DNA that we have is all about small, fast and lean, and that’s something that was very attractive to our new parent company,” he said. “I still write code, and all the people working on the product sit in one room. That allows us just to make decisions very quickly.”
He declined to comment on the Journal report or disclose a sale price.
Spun off in 2007 from the 2005 startup Top10Media Inc., StyleFeeder had taken in at least $4 million from venture-capital backers including Lexington-based Highland Capital Partners and Boston-based Schooner Capital LLC, including a $500,000 debt round closed last May.
The web service provides shopping recommendations aimed at women age 18 to 35.
Time Inc. is a subsidiary of Time Warner Inc. (NYSE: TWX).
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