Wanderful Media, a US-based deal finding platform backed by a host of media companies, was acquired by advertising technology producer OwnLocal for an undisclosed sum on Friday.
Founded in 2011, Wanderful opreates a platform called Find&Save that allows users to browse deals and coupons from local newspapers, retailers and other sources through Wanderful’s website and app.
A total of 10 Wanderful team members will retain their jobs, with some moving to OwnLocal’s headquarters in Texas and others staying in California to continue operating Wanderful as an independent business.
OwnLocal, which has created technology to turn print adverts into digital campaigns, made the acqusition to gain access to Wanderful’s data. Wanderful had raised a total of $50.5m in funding from 12 media firms, most recently closing a $14.5m funding round in 2014.
The companies shareholders were Advance Digital, AH Belo, Community Newspaper Holdings, Cox Media, EW Scripps, Gannett, GateHouse Media, Graham Holdings, Hearst, Lee Enterprises, MediaNews and McClatchy Company.