Looks like Condé is starting to put that $500 million digital war chest to good use. Today, the media conglomerate purchased grocery list and recipe organizing app ZipList, to the tune of $14 million, reported AllThingsD.
As we previously reported, Condé is no stranger to the woes of the print-to-digital transition. But since last year, the company has been bragging about a multimillion dollar stockpile of cash it’ll use to help bring the stodgy old print biz up to tech speed. The ZipList purchase appears to be one of the first moves representing Condé’s tentative foray into the digital sphere.
It may seem like an odd pairing, but Condé actually already owns Epicurious, a community for “people who love to eat,” so ZipList should fit well alongside that property. The company also invested in Moda Operandi, a fashion startup, last September.
Oh, and ZipList fans–don’t take to Twitter to voice your disgust over the acquisition just yet: AllThingsD says the Virigina-based company will continue to operate separately. Sorry, Buzzfeed.