Hearst has bought out online relationships advice site Answerology.com, we have learned, and now confirmed through the company. The site, based in New York City and founded in 2005 by Matt Milner, differs from other general Q&A sites like *Yahoo* Answers and *Amazon's* Askville, in that it is focused on relationships and marriage advice. In 2006, it received funding from investors including Jim Treacy, a former president and COO of Monster.com.
The site will be part of Hearst Magazines Digital Media. We couldn't figure out the buying price, but know it is in seven figures. I spoke briefly to Chris Johnson, VP of Hearst Digital, who explained the rationale for buying the site. He said that Answerology's "like-minded community platform" fits well into its magazine-branded and other online-only digital properties. The Q&A community is highly compatible with the service journalism that most of these magazines practice. The site will be be integrated into each of its 15 magazine sites and standalone sites...founder Milner is coming on with Hearst. Johnson also said that Answerology's mandate has increased since it was founded to add other areas, and Hearst intends to expand its focus.
By Rafat Ali