Wanderful Media Raises $22 Million
Wanderful Media is a startup company that is known for digitizing circulars for retail stores and grocery stores. Circulars are known for being the go-to marketing tools for grocery stores and retail stores to connect with consumers. Twelve of those companies have invested $22 million in Wanderful include Cox Media Group, the E.W. Scripps Company, Gannett Co., Hearst Corporation, MediaNews Group, The McClatchy Company, and The Washington Post Co.
Wanderful’s first product is called Find n Save. Wanderful said that Find N Save is powering the deals and shopping sections of newspaper websites in over 250 markets like the Sacramento Bee and The San Francisco Chronicle. Through those websites, consumers are able to browse, save, and print local retailers’ coupons. Last year Wanderful acquired a print-to-digital conversion company called Travidia. Travidia has a conversion center in Chico, California.
Wanderul’s CEO is Ben T. Smith IV. Smith is the former co-founder and CEO of MerchantCircle and was the CEO of Spoke.com. Smith told TechCrunch that the adoption was driven by the retailers. After the retailers signed up, the publishers followed.
“From a retailer’s perspective, they didn’t want to deal with 50 different experiments,” stated Smith. Wanderful gives them one place to get deals in front of readers across 250+ markets. The company wants to expand to 600 markets in 2013.
The Find N Save tablet and smartphone applications will be coming soon too. Wanderful will expand beyond the Find N Save product eventually to take on other industries.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry