Wanderful Media, which has been tasked by the newspaper industry to remake the circular industry in the mobile social era. has raised a new round of $14.5 Million. Altogether, the company has raised $50.5 Million since its September 2012 launch.
The company is primarily known for Find&Save, which relaunched one year ago. It now serves 500 affiliate sites, including all Top 50 DMAs. Find&Save provides geo-targeted distribution of offers for 375 retailers and 150,000 retail locations. While iPhone and iPad apps have been Find&Save’s initial focus, an Android version was launched today.
Speaking at the Local Search Association meeting today in Huntington Beach, CA, CEO Ben Smith said the company is set to put the new money to work. Upwards of $10 million will be committed this year to app distribution and “making sure people are installing our apps,” he said.
“It’s much like managing your SEO — it’s not trivial and requires significant investment,” said Smith. He added that mobile customers typically only use 10 apps on a frequent basis. “The better way to approach mobile is to consider geo/location data as a way to augment and craft customized marketing messages,” he said.
Facebook integration is also key to “tying it all together,” added Smith. “We get the geo/location data from the mobile app — but Facebook provides the demographic context required to make the data acquired by Wanderful actionable.”