Acquisition Will Extend NAM's Digital and Mobile Reach
NEW YORK, July 24, 2015 /PRNewswire/ -- News America Marketing (NAM), a subsidiary of News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV), today announced the acquisition of Checkout 51, the data-rich, digital and mobile coupon company based in Toronto.
The Checkout 51 mobile app enables consumers to browse weekly discount offers on a wide range of grocery items including fresh produce, household and personal care, and then redeem the offers post-purchase simply by taking a photo of their receipt.
NAM, the premier publisher of print and digital coupons in the United States and Canada, completed the acquisition on July 24th. Checkout 51 will continue to be based in Toronto and the app will retain its name.
The Checkout 51 app was ranked Best for Cash Back in 2014 by Consumer Reports1 and has garnered positive reviews from consumers2 since its launch in 2012 in Canada and 2014 in the U.S. It is the #1 receipt recognition app in Canada3. The company currently has over three million registered users in the U.S. and another one million registered users in Canada. 94% of Checkout 51 users are under the age of 55 and 81% are under 454. Since its launch, Checkout 51 has paid out nearly $15 million (USD) in savings to consumers5.
"This is a significant moment for the digital transition and development of News America Marketing. Bringing Checkout 51 into the News America Marketing family allows us to offer new mobile options for our clients to reach consumers, with a smartphone-friendly, paperless and highly personalized experience that many of today's consumers, particularly Millennials, find attractive," said Marty Garofalo, CEO, News America Marketing. "We believe Checkout 51's mobile savings app is the perfect addition to News America Marketing's SmartSource family of products and services which have long been a staple of savvy consumers across the U.S. and Canada."
"We are thrilled to be joining News America Marketing, a company with a long-standing pedigree of helping consumers stretch their budgets," said Noah Godfrey, Co-founder and General Manager, Checkout 51. "News America Marketing's relationships within the consumer packaged goods industry will give us the additional reach that will allow us to further expand our offerings to give more consumers more savings opportunities than ever before."
"News America Marketing's leadership is fully committed to digital as it relates to consumer marketing along the path to purchase, and you can expect to see more product evolutions and additions to our portfolio as we anticipate and respond to the needs of our clients and our retailer partners," added Mr. Garofalo.
2 Currently rated 4.5 out of 5 stars in Apple's App Store.
3 Based on ranking in the Canadian Apple App Store, Lifestyle section
4 Based on Checkout 51 membership database
5 Based on Checkout 51 offer redemption database
About News America Marketing®
News America Marketing, a subsidiary of News Corp [NASDAQ: NWS, NWSA; ASX: NWS, NWSLV] is the premier marketing partner of some of the world's most well-known brands. From our iconic Sunday coupon insert, SmartSource Magazine®, to our innovative digital savings platforms, News America Marketing's SmartSource®-branded advertising and promotion programs are an integral part of America's shopping routine. We reach millions of consumers each day through our network of 1,900+ publications1, 56,700+ retail stores2, and 500 online partner sites including our own SmartSource.com3. Since 1988, we have delivered advertising and promotions that are proven to help brands succeed.
1NAM market list effective August, 2015
2Based on an aggregate of NAM cycle 8, 2015 Coupon Machine for all classes of trade with the exception of specialty stores that accept only Carts or Shelftalk
3As of December 2014
About Checkout 51
Checkout 51 Mobile Apps ULC, the company being acquired, operates the mobile app that helps consumers save money on their groceries simply by taking a photo of their receipt. Launched in Canada in 2012 and the US in 2014, Checkout 51 is now one of the most popular savings apps in North America1. Over four million members have already saved a total of USD $15MM2. Checkout 51 works with many of the largest packaged goods companies in the world, allowing them to deliver exactly the right offer to the right person at the right time via their unique mobile platform.
The Checkout 51 app is available for free in the Apple App Store, Google Play, and at checkout51.com.
1 Based on ranking in the US & Canadian Apple App Stores, Lifestyle section
2 From Checkout 51 offer redemption database
This document contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from these expectations due to changes in global economic, business, competitive market and regulatory and other factors. More detailed information about these and other factors that could affect future results is contained in News Corp's filings with the Securities and Exchange Commission. The "forward-looking statements" included in this document are made only as of the date of this document and we do not have any obligation to publicly update any "forward-looking statements" to reflect subsequent events or circumstances, except as required by law.
SOURCE News America Marketing