The McClatchy Co. said Tuesday it has invested in a Davis tech company developing a mobile app for shoppers.
Sacramento-based McClatchy, which owns The Bee and 28 other newspapers, invested in Engage3, a company based in Davis, San Francisco and Scottsdale, Ariz.
The size of the investment wasn’t disclosed.
The companies said the money “will be used to accelerate market adoption” of Engage3’s mobile app, called ShoppingScout. The app lets consumers comparison shop while they’re in stores. The early version of the app covers supermarkets, pharmacies and other stores from Lake Tahoe to Fresno.
The app “helps consumers find information on brands and retailers and receive promotional offers via social, digital and print media,” said Ken Ouimet, chief executive of Engage3, in a press release.
It’s the first investment announced by McClatchy since the company agreed to sell its 25.6 percent stake in automotive website Cars.com last week. McClatchy has said it will use the $406 million in post-tax proceeds to pay down debt and invest in various digital businesses.
Call The Bee’s Dale Kasler, (916) 321-1066. Follow him on Twitter @dakasler.