Newspaper Companies Invest Another $9M In Local Deal Startup Wanderful Media

May 21, 2013

Wanderful Media has raised another $9 million from the long list of newspaper and media companies that were already backing the startup and its local deal service Find&Save.

The announcement comes after the relaunch of Find&Save last month. The service allows readers to browse deals aggregated from newspaper circulars, retailers, and other data sources. That was the first big redesign since Wanderful acquired Travidia (the print-to-digital conversion company that started Find&Save), and at the time, CEO Ben T. Smith IV told me that it was Wanderful’s first opportunity to put its own stamp on the product. That involved adding more personalization and social features, such as the ability to create shopping lists and to follow retailers and other users.

COO Doug Kilponen said yesterday that the relaunch has gotten a positive response so far. That’s one of the reasons for the new funding — to increase the distribution around a product that seems to be working. He added that the new Find&Save spurred interest from new investors too, so “we’ll hopefully see some news on that as well.”

This brings Wanderful’s total funding to $36 million. All of Wanderful’s existing backers participated, Kilponen said, and the round had no lead investor. The existing investors include (deep breath) Advance Digital, A. H. Belo Corporation, Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Company, Gannett Co., GateHouse Media, Hearst Corporation, Lee Enterprises, MediaNews Group, The McClatchy Company, and The Washington Post Co.

Although Find&Save has its own website, it also integrates with the sites of newspapers like the San Francisco Chronicle — in fact, it says its network already reaches 100 million unique visitors each month. The next step, Kilponen said, will be the launch of Find&Save apps for mobile and tablet.

link to article: http://techcrunch.com/2013/05/21/wanderful-media-new-funding/

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