Narcity Media Group (NMG) is looking for a cash infusion through an equity crowdfunding Community Round. NMG has first approached its partners in the industry and will soon be giving the general public an opportunity to become co-owners of the company. In a letter from Chuck Lapointe, NMG co-founder and CEO, he states that reason behind the offering is the ambition to evolve into a tech company that unlocks the full value of the content NMG creates, to level up local economies and build a new type of sustainable media business.
This week Lapointe says NMG is hoping to launch the private link to its President’s List, readers, clients and partners that have showed interest in investing in NMG. He is not sure when the offering will open to the general public yet. That will depend on how much traction the company gets from the current list.
One example of NMG’s vision is Milla, a city loyalty cashback membership program focused on savings and rewards. The app and platform are built for users to save and earn points for engaging with NMG content and spending money at local stores. The platform will offer both free and membership tiers. Milla will launch in the next few months. It will be entirely owned by NMG and be integrated across all of NMG properties and applications.
Milla will make money from three revenue streams: marketing fees charged to businesses for referring them sales and new customers, membership fees and targeted promotion advertising fees for businesses looking to boost their sales.
Other technology investment planned or completed by NMG include mobile native applications for Narcity and MTL Blog and omni-channel engagement technology that unlocks off-platform engagement for hundreds of thousands of connected users through their phones – emails, SMS, push notifications, all automated through NMG’s trending content. In the next two years, NMG will create and launch a full funnel advertising solution that will allow any brands or merchants to boost their Milla offers across the NMG ecosystem, creators and applications.
NMG is a 10-year-old Canada-based media company that reaches nearly three million Canadians each month. Its properties include MTL Blog, Narcity Toronto, Narcity Montreal, Narcity Quebec, Narcity Canada and Narcity USA. Other NMG initiatives include marketplace brands Rally, a talent and creator division that supports Canadian creators and the economies of local communities, and business events division, Boulevard.
