Digital Ad Platform for Local Media, OwnLocal has acquired Retail-Focused Media Company Wanderful Media. This acquisition that is expected to benefit both of the companies. At present, OwnLocal operates in a space that Travidia(now known as Wanderful Media), invented and scaled. And after the acquisition, both the company will work together for fulfilling their vision.
OwnLocal was founded in 2010. By using machine learning and computer vision technology, the company claims to have turned traditional advertisements into powerful online campaigns for newspapers’ advertisers. The company provides businesses with a simple entry point into digital advertising and adds hundreds of thousands of dollars in new, recurring revenue to their media partners’ bottom lines.
The company specializes in running digital marketing campaigns for newspapers’ local advertisers, all starting from their print ads. To do that, the company extract the content from print ads to automatically build a variety of online marketing campaigns. This allows local advertisers to be seen and found, online and offline. And it provides their publication partners with high low-cost advertising solutions and an instant new revenue source.
The company is backed by some of the leading investors in media and technology which include Y-Combinator, Lerer Ventures (Huffington Post), Automattic (WordPress), Knight Foundation, Baseline Ventures, and angel investors including Jonathan Coon (1-800 Contacts), and Paul Buchheit (creator of Gmail).
The company claims that at present, it works with 3,300+ media titles throughout North America, Europe, and Oceania, including Digital First Media, NewsCorp Australia, and Cox Media Group.
The company has acquired five companies since 2011, including Whoosh Traffic, Sidengo, Inbound Press, Print2Web, and now Wanderful Media. Currently, the company have around 90 full-time employees and is based in Austin, Texas.
Currently we process 600,000 print campaigns for more than 129,000 businesses every quarter. In the last year, OwnLocal has generated over $150MM in new revenue for our 3,300 newspaper partners.
In 2011, a dozen of the largest media conglomerates in America collectively represented 450 newspapers and 80% of all US markets, joined together to purchase Travidia. It is a newspaper digital-circular solution under the name ShopCo Holdings, LLC.
In early 2011, Travidia launched FindNSave, a website and mobile app solution to curate local deals and sales content from major national brands and retailers, in 800+ markets. The consortium purchased FindNSave as part of the deal.
In 2012, the consortium changed their name to Wanderful Media and invested $22 million in the FindNSave product. That year they also acquired iCircular, a mobile newspaper shopping ads platform, from the Associated Press.
Through Find&Save, CoffeeTable, and several other products, The company became a leader in the local shopping space, streamlining the relationship between national retailers and local newspapers, and paving the way to monetizing print content on the web.
The company claims that 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 utilizes geo-targeting to show consumers the best bargains and shopping content customized for their area.
Combining the core strengths of both the companies and local focus will let them to better serve the publishing industry as a whole, and in turn, the businesses they serve.