New Media’s Investment in TapOnIt
On February 1, 2018, New Media Investment Group Inc. (“New Media,” NYSE: NEWM), one of the largest publishers of locally based print and online media in the United States, announced its acquisition of a 20% interest in TapOnIt, LLC (“TapOnIt”), the mobile database development start-up founded by Quad Cities-based entrepreneurs Katie Wilson and Sara Castillo. Lane & Waterman attorney Kyle Day advised TapOnIt in connection with the transaction. The Lane & Waterman team representing TapOnIt also includes intellectual property attorney April Price, employment attorney Wendy Meyer, and litigation attorney Ian Russell.
The deal is expected to help TapOnIt expand to additional markets across the country.
“As a start-up founder, there are so many moving parts and every situation is new. Having a team of professionals I can call upon to help us along the way was invaluable. They helped me avoid a lot of unneeded heartache,” Katie shared.
TapOnIt, founded in April 2015, has grown to encompass three Iowa markets (Quad Cities, Cedar Rapids, and Des Moines) and over 70,000 users. More than a deal texting platform, the company leverages proprietary technology to help consumers save money while also driving traffic to local businesses. Co-Founder Sara explains, “The real value for both consumers and our clients is how easy it is to redeem offers, which leads to high retention and redemption rates. Really, it’s a win-win for everyone.”
The New Media investment is a major milestone for Katie, Sara, and the TapOnIt team. We join in congratulating them and look forward to their continued success.
Read the New Media press release: New Media Acquires 20% Stake in TapOnIt