APN gets friendly with Pollenizer
When old media and new media collide
Australasian print and radio media company APN News & Media has secured a deal with leading Australian digital start up incubator Pollenizer.
APN secured the first of two strategic investments with Pollenizer that will help APN beef out its digital portfolio.
APN took a 25% stake in Friendorse, an early stage online business co-founded by Pollenzier that uses search and user generated recommendations for businesses and services within a neighbourhood.
APN will use the Friendorse platform to integrate with its publications in its Australian Regional Media business.
“Part of APN’s strategy for our regional publishing businesses is to provide more services and useful local information relating directly to those communities. The Friendorse model based around recommendations is a good fit with that strategy," said APN Chief Development Officer, Matt Crockett.
In the second part of the courtship, APN and Pollenizer will jointly fund a vehicle to identify new digital business models adjacent to APN’s core businesses in outdoor, publishing and radio.
Pollenizer co-founder Phil Morle said “it can be challenging for early stage businesses to work with large, established media groups, however APN is establishing a track record of working effectively with entrepreneurs. Pollenizer sees that as a strong basis for entering into our first innovation partnership with a large corporation.” ®