Both companies have not disclosed the acquisition amount, but noted that there is synergy between the two parties. Asahi Shimbun, which runs a national daily broadsheet newspaper that has a circulation of eight million readers as of 2010, may start using Somewrite’s services to create owned media for its advertising clients.
Launched in September 2013, Somewrite has signed on more than 100 companies as clients, including human resources company Adecco and Japanese beer company Sapporo Breweries, according to a report. It had previously raised $1.1 million in a funding round from Japanese social gaming company GREE and other undisclosed investors in 2014. Clients can use its platform to place its content marketing articles on media channels in a relevant manner, essentially distributing the articles as native advertisements.
The deal will be finalised by the end of this month upon completion of the share transfer process. Going forward, Yasunari Shibata, Chairman and founder of Somewrite; Satoru Ikedo, the COO of Somewrite; Soraseed Startups, a venture fund started by Shibata; and GREE will no longer own shares in the startup.
However, Shibata and Ikedo will continue to guide the company by sitting on the company’s board of directors. Asahi Shimbun will also appoint a director from its end to manage the company accordingly.