Austin-based digital advertising OwnLocal is continuing its acquisition roll with another deal.
The company said it has purchased Wanderful Media for an undisclosed price.
Twelve major media companies -- including Cox Media Group, Gannett Co., Hearst Corp. and the Washington Post Co. -- joined in 2011 to create Wanderful as a way to move printed circular ads into the digital world. Cox Media Group owns the Austin American-Statesman and 512tech.com.
Based in California, Wanderful Media operates Find&Save, a website and mobile app powered by newspapers that promotes local coupons and ad content to consumers.
Find&Save has more than 400 sites that offer daily deals from large retailers and brands, including Walgreens, Kohls and Office Depot. Through the sites, consumers can browse, save, and print local retailers’ coupons, which have been converted from print to digital.
Since its launch, Wanderful has raised a total of $50.5 million. In addition to Find&Save, Wanderful has acquired iCircular from the Associated Press.
OwnLocal said the acquisition will allow it to expand its media partner network and augment the suite of digital services it provides to local advertisers.
“The mission of OwnLocal is to transform the way businesses tell their stories online to a local audience,” Lloyd Armbrust, founder and CEO of OwnLocal, said in a written statement. “We’re happy to have acquired deep expertise and supporting technology from Wanderful to help more businesses be seen and found online through our media partners.”
Founded in 2010, OwnLocal works with more than 3,300 media companies worldwide, including Digital First Media, NewsCorp Australia and Cox Media Group.
OwnLocal has acquired five companies since 2011. In February, it bought Florida-based digital service provider Print2Web for an undisclosed price.
Financial backers including Y-Combinator, the Knight Foundation and Baseline Ventures have invested $3.45 million in OwnLocal, according to Crunchbase.
Armbrust said OwnLocal has 67 employees in Austin, one in London and 13 in California. OwnLocal is profitable and grew its year-over-year revenue by 75 percent last year, he said.
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