OwnLocal recently announced it has acquired newspaper consortium-owned Wanderful Media. The acquisition of Wanderful will allow OwnLocal to expand their media-partner network and augment the suite of digital services they provide to local advertisers.
OwnLocal automatically turns print and broadcast advertisements into localized digital marketing campaigns.
Wanderful Media operates Find&Save, a website and mobile app solution powered by newspapers that promotes local coupons and sale content for consumers. Find&Save has more than 400 sites that offer daily deals from large retailers and brands, such as Walgreens, Kohls, and Office Depot. The app streamlines communication between newspapers and the national brands who purchase circulars and inserts (est. $4 billion industry), and utilizes geo-targeting to show consumers the best bargains and shopping content customized for their area.
Twelve major media companies in the United States—including Cox Media Group, Gannett Co., The Hearst Corp., and The Washington Post Co.—joined together in 2011 to create Wanderful Media as a way to purchase Travidia, Inc. and their Find&Save product. Since then, Wanderful Media has raised a total of $50.5 million in four rounds of funding between September 2012 and April 2014 that they invested into the Find&Save App, as well as the acquisition of iCircular from the Associated Press in 2012.
Bob Clark, VP of Technology for Wanderful Media, said, “Both Wanderful and OwnLocal have a history of successfully introducing new products to better local advertising. On top of that, OwnLocal provides fresh ideas and new technology. Experience merged with innovation will bring the best-of-breed digital solutions to the publishing industry, and in turn, to their advertisers.”
OwnLocal works with more than 3,300 newspapers globally—such as Gannett, tronc, and GateHouse Media—and powers digital campaigns for more than 129,000 local businesses.
“The mission of OwnLocal is to transform the way businesses tell their stories online to a local audience,” said Lloyd Armbrust, founder and CEO of OwnLocal. “We’re happy to have acquired deep expertise and supporting technology from Wanderful to help more businesses be seen and found online through our media partners.”
Wanderful Media will continue to operate as an independent company and their products will be supported for the foreseeable future. Clark, along with nine other Wanderful employees, will join the OwnLocal team immediately. A few of these employees will relocate to Austin, Texas, and Wanderful will maintain an operational office in Chico, Calif.
This is OwnLocal’s fifth acquisition in four years. The terms of the agreement were not disclosed.