The consortium of 12 major newspaper companies that last year purchased Travidia, a digital circular vendor, has relaunched as Wanderful Media. The consortium, previously known as ShopCo., has committed $22 Million to the venture. It has also introduced a new tablet version of FindnSave.com, a site that launched last year under the old Travidia regime.
FindnSave enables local newspapers to customize a host of promotions – i.e. deals, coupons, sales, classifieds, inventory — as a single presentation. CEO Ben Smith, a cofounder of Merchant Circle, says that FindnSave is the first of many products that the company hopes to launch. The company is working with 239 local media titles, and has a presence in 47 of the Top 50 markets. It hopes to soon reach 600 unique local websites (many brands have multiple sites).
Smith notes that he’s adding new technology and marketing smarts to the company, including 15 Silicon Valley based employees, who will take a “small team” approach to development. The company has 60 employees with the majority working at its production facility in Chico, CA, north of Sacramento.
The new product was developed based on extensive talks with its 42 national retailer clients. The lean back tablet experience of its new app promises to deeply engage its target customers, says Smith. “It is discovery shopping,” supported by the newspaper industry, which he reminds us, continues to grab $4 Billion a year in ad dollars from retailers.
Smith also cites research showing that the circular form factor remains more engaging than search or display ads for retail. Ultimately, he sees his job as updating the form factor and extending the accounts.