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Wanderful Media Adds $5M in Funding to Its List of 2012 Milestones

LOS GATOS, CA--(Marketwire - Jan 16, 2013) - Wanderful Media™, a new digital local discovery shopping company based in Silicon Valley, announced today it hit many significant milestones in 2012. The momentum was capped in Q4 with the raising of an additional $5 million from current investors. This addition brings to bear $27 million in cumulative funding to make discovery shopping engaging, fun and social, wherever consumers are and however they shop -- tablet, mobile or web. Wanderful Media hit 2013 running with company and product growth, and is positioned to take on a leadership role in the online discovery shopping marketplace.

Wanderful Media has seen solid partnership momentum with its Find n Save® product -- an online shopping marketplace where consumers discover merchandise and sales from local retailers. It offers local media affiliates a complete discovery shopping platform, designed to connect retail advertisers with millions of consumers. Wanderful Media added its 300th newspaper affiliate in 2012 and has 600 targeted by the end of this year.

The company also demonstrated market leadership through the acquisition of iCircular from The Associated Press (AP) in November 2012. Wanderful Media acquired iCircular to broaden its products for mobile devices and tablets. iCircular was launched by AP to bridge the digital gap by delivering the traditional weekly circular on mobile devices within trusted local news sources' applications and mobile websites. The successful pilot included more than 180 publications and 21 nationwide retailers, and has produced important insights into consumer engagement and interest in mobile circulars.

Other notable achievements include:

  • Launch of Wanderful Media. In September 2012, Wanderful Media entered the market to connect retail advertisers with millions of consumers nationwide. The company was originally formed in November 2011 as ShopCo Holdings, a digital services provider for circular print conversion.

  • Expansion of the Management Team. Wanderful Media continues to build its management team with the 2012 appointments of Doug Kilponen, COO; Steve Trefethen, CTO; Dave Thomsen, EVP of Product and Design; and Grace Chan, VP of Product Management. These highly experienced individuals bring many years of retail, advertising, media and technology expertise.

  • New Headquarters and Office Expansion. Wanderful Media opened a new office in Los Gatos, Calif., and is renovating an expanded developer and operations office in downtown Chico, Calif. The company continues to actively recruit product, engineering, marketing and administrative talent for both offices. To learn more about career opportunities please visit: http://www.wanderful.com/careers.htm

Supporting Quotes
"It's been an incredible year for the retail and e-commerce industries, especially when it comes to discovery shopping. For Wanderful Media, 2012 will be defined as a year of building, and the theme for this year will be delivering. We've been moving quickly since the company launch and are well on our way to hitting many important goals in Q1. We are in an advantageous position, with strong retail and newspaper partnerships, as well as being backed by some of the most powerful media brands in the world."
- Ben T. Smith, IV, CEO of Wanderful Media

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About Wanderful Media
Wanderful Media is a Silicon Valley company reinventing local discovery shopping. Providing reach into more than 80 percent of U.S. markets through trusted media brands, Wanderful Media helps retailers bring consumers into local stores and gives consumers the most convenient way to discover local merchandise. The company is backed by a powerful group of media companies including Advance Digital, A. H. Belo Corporation, Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Company, Gannett Co., Inc., GateHouse Media, Inc., Hearst Corporation, Lee Enterprises, MediaNews Group, The McClatchy Company, and The Washington Post Co.

Unlike price comparison, daily deal and couponing sites, Wanderful Media makes discovery shopping engaging, fun and social for consumers, wherever they are and however they shop -- tablet, mobile and web. The company's Find n Save® product offers local media affiliates a complete discovery shopping solution, designed to connect retail advertisers with millions of consumers. Wanderful Media is headquartered in Los Gatos, Calif. and on the web at www.wanderful.com.