Two Peas acquired by Kaboose Inc.

From a press release issued today by Kaboose, Inc:

Kaboose is also pleased to announce that it has signed a definitive agreement to acquire substantially all of the assets of Two Peas Inc. ("Two Peas") (www.twopeasinabucket.com) for US$600,000 in cash with additional
consideration to be paid to the owners of Two Peas on an earn-out basis. Two Peas is the largest online scrapbooking community in the U.S. Scrapbooking is a multibillion dollar industry that has quickly transitioned to the Internet. The sector has quadrupled over the last five years and is the fastest growing hobby segment, according to the Craft & Hobby Association. In addition to operating an online storefront, Two Peas offers its users a number of services that enhance and inspire their scrapbooking hobby. About 85% of scrapbookers are married women between the ages of 30 and 59 and the single largest catalyst to begin scrapbooking is the birth of a child.

Jonathan Graff, President of Kaboose stated, "The acquisitions of both BabyZone and Two Peas will add approximately 2.5 million unique users, 6 million visits and over 50 million page views per month to Kaboose. As the trend towards online consumption of media increases, we believe Kaboose is in a truly unique position to capitalize on the enormous growth opportunities in our sector."

About Kaboose Inc.: Kaboose (www.kaboose.com), the largest independent online media company focused on kids and families, features over 12,000 pages of content for parents and over 1,000 games and educational activities for kids. Kaboose entertains, informs and educates millions of kids and parents every month and helps some of the world's leading brands reach this coveted audience. Kaboose trades on the Toronto Stock Exchange under the trading symbol "KAB".

Kaboose also announced in the same press release it's acquisition of BabyZone.com, Inc., "the largest independent online destination focusing on pregnancy and parenting in the United States." The acquisition was made for $22 million dollars plus additional considerations.

What will this mean for the future of the largest and most popular scrapbooking site on the internet? It's been apparent to many that unfortunately Two Peas as a company has been struggling for some time and hopefully this influx of capital will help bring new life to the company while still preserving the community's many wonderful aspects. Of course any change to the management or ownership can make the community's most avid members nervous about what change means, but hopefully it will only mean bigger and better things for Two Peas, it's  ownership, and it's community. Only time will tell.

Updated: A statement has been posted by founder Kristina White on the Two Peas website announcing the company's acquisition by Kaboose. It states in part that she and her husband Jeffrey White will continue to head up Two Peas and that "the online store will be re-energized with new drive and focus with new inventory, new kits, new ideas, new promotions and a new organization. The community areas and resources at Two Peas will grow exponentially in the next year. Included in this are
online classes and other exciting media presentations." Sounds like some great things may be coming for the Two Peas community!