Wallit, a state-of-the-art software firm based in Milwaukee, which provides paywall services to dozens of publishers throughout the United States, has sold a majority stake to MvWd Enterprises, a media group based in the Berkshires (western Massachusetts) and New York's Capital Region. MvWd Enterprises is headed by Warren Dews, Jr. and Mark Vinciguerra.
Terms of the sale were not disclosed. Mike Gehl, the founder of Wallit, said the transaction symbolized a pivotal moment for the company and its future.
“Wallit is well-positioned for continued growth and I'm excited to work with Mark and Warren to advance the company to the next level. As industry leaders they have the knowledge, passion and drive to foster innovative and creative solutions that will support Wallit's future success,” Gehl said.
Dews, Jr., who serves as publisher of two weekly newspapers and several community guides across the Berkshires and the Capital Region and is also the vice president of Capital Region Independent Media, celebrated the sale.
“I'm excited to add this dynamic service to our portfolio of resources which can help media companies, as well as businesses in a wide range of industries, advance to the next frontier of success,” said Dews, Jr., who has worked in the media and music industry for close to three decades.
To be clear, Wallit is ready and able to meet the needs of businesses ranging from mom-and-pop outfits to corporations. With our cutting-edge technology and experience, we can help any business — media, music and beyond. We know what you are going through because we are you!”
Vinciguerra is the owner of Capital Regional Independent Media and the National Press Institute for Audience Growth, a consulting firm which works with various publishers to grow audience and revenue.
“We are delighted to be able to offer state-of-the-art technology, with a model that is cost-effective for small-to mid-sized publishers and journalists. We are confident the offerings from Wallit will allow these publishers to create a digital subscription strategy that is on par with much larger publishers at a zero-cost entry point,” Vinciguerra said.
Vinciguerra and Dews, Jr. have also announced they will be adding John Harrison, a veteran technologist in the media space. He will serve as vice president of product services, ensuring consumers and publishers maximize the technology. Harrison most recently served as director of business development at Tecnavia and previously as WW product marketing director at Agfa.
Gehl founded Wallit in 2013. The company was a finalist in the Newspaper Association of America’s (now News Media Alliance) “Shark Tank” competition in 2015 as one of the best new ideas in the publishing industry.
For more information, please contact:
Warren C. Dews, Jr.
Capital Region Independent Media
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