Tuesday, January 24, 2012

Allrecipes.com Sold For $175M

Seattle-based Allrecipes.com, the online recipe and food site owned by Reader's Digest, has been sold to women's marketing firm Meredith Corporation. Meredith said it paid $175M for Allrecipes.com, to help it double its reach of its Meredith Women's Digital Network. Meredith said it will invest in Allrecipes.com to optimize the site for both the online and mobile audience. Reader's Digest has been trying to selling the site for some time.