OwnLocal works with neighbourhood newspapers to revolve usual print ads into digital expeditions. Wanderful, meanwhile, operates Find& Save, a website and app that wreaks the newspaper bargains and tickets online. So there are some obvious similarities.
The big-hearted rationale for the acquisition, OwnLocal CEO Lloyd Armbrust told me via email, is that he wanted to get access to Wanderfuls data.
Wanderful and Travidia( its most recent specify)[ have] been there for almost 20 years and theyve obtained millions of records of how regional organizations advertise online, specifically in publish, Armbrust replied. This meta data is being used to enhance our machine learning/ computer vision abilities for automatically improving local ad campaigns.
Wanderful was formed in 2011 and funded by a consortium of newspaper companionships( including Cox Media Group, The E.W. Scripps Company, Gannett Co ., Hearst Corporation, MediaNews Group, The McClatchy Company and The Washington Post Co .), eventually causing a total of $50.5 million. The financial terms of its buy were no longer disclosed.
Ten Wanderful works, including Vice President of Technology Bob Clark, are participating OwnLocal immediately. And although some of them will be relocating to OwnLocals headquarters in Austin, the company mentions Wanderful will continue to operate as an independent business with an operations center in Chico, California.