LOS GATOS, CA--(Marketwire - Sep 25, 2012) - Wanderful Media™, a new digital local discovery shopping company based in Silicon Valley, launched today to connect retail advertisers with millions of consumers nationwide. Building upon the innovations of its Find n Save® product, Wanderful Media brings to bear $22 million in cumulative funding to make discovery shopping engaging, fun and social, wherever consumers are and whatever they use to shop -- tablet, mobile or web.
Wanderful Media is backed by a powerful group of 12 media companies including Advance Digital, A. H. Belo Corporation, Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Company, Gannett Co., Inc., GateHouse Media, Inc., Hearst Corporation, Lee Enterprises, MediaNews Group, The McClatchy Company and The Washington Post Co. The company was originally formed as ShopCo Holdings in November of 2011 and has been operating under that name until today.
The new company represents a media industry initiative to transform the $4 billion business of traditional advertising circulars through digital innovation. Just as joint media ventures such as CareerBuilder and Cars.com strengthened the industry's position through the use of new technology, Wanderful Media was created with an even broader set of investors to reinvent the circular advertising business for its partners and extend it to the rest of the industry.
Wanderful Media is uniquely qualified to lead an industry transformation.
Only Wanderful Media has the industry experience and partnerships, local market distribution and proven business model to truly reinvent local discovery shopping.
- An experienced team with unparalleled industry support
Led by CEO Ben T. Smith, IV, the company's executive team has strong retail, advertising, media and technology expertise and is backed by 12 major media companies.
- Top retail advertiser relationships
Wanderful Media is working with 42 of the top retailers comprising some of the best-known brands in the business.
- Extensive local distribution into 250+ markets
The company has strong media partnerships, connecting consumers and retailers through more than 250 local shopping sites with commitments to expand to 600 sites in 2013. Key media sites include The Sacramento Bee, The Dallas Morning News, The Washington Post, The San Francisco Examiner, The Atlanta Journal-Constitution, The Charlotte Observer, The Kansas City Star, San Jose Mercury News and many more. The complete list can be found at http://www.findnsave.com.
- A developing business model already delivering audience and revenues
The company today is piloting the digital discovery shopping concept through its ownership and operation of the Find n Save brand of local shopping sites currently in beta. These sites cover 47 of the top 50 designated market areas (DMAs) and are building a large consumer audience.
- Built on acquisition of long term industry provider
The company was formed in November 2011, as ShopCo Holdings to acquire Travidia®, a digital services provider for circular print conversion to the media industry and the beta product Find n Save.
Wanderful Media will introduce new innovation in local discovery shopping.
According to a recent study1, consumers still rely heavily on circulars for shopping, with 74 percent checking to see what's on sale, 64 percent browsing circulars, and more than half (58 percent) using circulars to plan their regular shopping. The emergence of locally targeted mobile technology and the adoption of tablets for personal use creates a timely market opportunity to reinvent the traditional print circular.
Targeting Spring 2013 for the introduction of a new local discovery shopping collection of media properties, Wanderful Media will deliver a fun and integrated social experience for consumers across tablet, mobile and web. The new platform will support the full experience of discovery shopping, from casually browsing on a tablet and sharing lists with friends, to in-store reminders and promotions on the phone.
With significant product, distribution and market advantages, Wanderful Media is poised to reinvent local discovery shopping. Founded in November 2011, the company is headquartered in Los Gatos, Calif., with a development and operations office in Chico, Calif.
Supporting Quotes
"Wanderful Media is betting on social and mobile platforms, and creating a seamless and engaging experience across tablet, mobile and web. Our market pedigree, partnership with big local media, and the proven ability to bring a massive consumer audience to retail advertisers, uniquely positions us to disrupt traditional circular advertising and transform local discovery shopping."
- Ben T. Smith, IV, CEO of Wanderful Media
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About Wanderful Media
Wanderful Media is a Silicon Valley company reinventing local discovery shopping. Providing reach into more than 80 percent of U.S. markets through trusted media brands, Wanderful Media helps retailers bring consumers into local stores and gives consumers the most convenient way to discover local merchandise. The company is backed by a powerful group of media companies including Advance Digital, A. H. Belo Corporation, Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Company, Gannett Co., Inc., GateHouse Media, Inc., Hearst Corporation, Lee Enterprises, MediaNews Group, The McClatchy Company, and The Washington Post Co.
Unlike price comparison, daily deal and couponing sites, Wanderful Media makes discovery shopping engaging, fun and social for consumers, wherever they are and however they shop -- tablet, mobile and web. The company's Find n Save® product offers local media affiliates a complete discovery shopping solution, designed to connect retail advertisers with millions of consumers. Wanderful Media is headquartered in Los Gatos, Calif. and on the web at www.wanderful.com.
1 How America Shops & Spends 2012, NAA Research Study