Gannett Acquires Mobile Consumer Rewards Company Key Ring
Last month Gannett acquired BLiNQ for $92 million. Now Gannett is acquiring Mobestream Media, the company known for developing the Key Ring consumer rewards mobile platform. I actually just heard about Key Ring a couple of weeks when I was eating at a restaurant called On The Border. I set up a customer loyalty program with that restaurant through Key Ring. The terms of the acquisition are unknown.
Key Ring’s mobile app allows consumers to consolidate their loyalty and reward cards and coupons into one platform. Through the app, consumers can access digital coupons and digitize their loyalty cards. Then they receive mobile notifications when they are eligible for a discount.
Key Ring raised funding from Austin Ventures and can be downloaded on the iPhone, Android, BlackBerry, and Windows Phone 7 devices. Over 5 million users have downloaded the Key Ring app.
Gannett runs top print brands like USA Today and several broadcast stations. “Key Ring has led the way with consumer adoption of its smartphone app and developed key relationships with small and mid-sized retailers,” stated Gannett CEO Gracia Martore in a press release. “With Key Ring, we will be able to provide consumers with a very easy way to use and manage their digital customer loyalty cards and access mobile coupons. For our business clients, Key Ring enables them to enhance and grow their relationships with customers by distributing their loyalty programs and providing a new method of reaching consumers.”
Key Ring will be rolled into Gannett’s Digital Marketing Services mobile product. The company will continue to operate as a stand-alone business. Key Ring CEO Chris Fagan will be reporting to Gannet’s president of Digital Marketing Services Vikram Sharma.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry