Time-To-Find watches website inks airtime and investment deal with UKTV
D2C Swiss watches marketplace Time-To-Find said Tuesday that it has taken the next step in its development with an undeniably creative approach to getting new investment. It has closed a seven-figure "airtime-for-equity" deal with BBC Studios-owned broadcaster UKTV via the company's multi-million-pound investment fund, UKTV Ventures.
It’s an interesting move that means UKTV will have an equity stake in the firm in exchange for a year's worth of advertising on its network of channels that include British satellite channels Alibi, Dave, Drama, Eden, Gold, W, and Yesterday. Those channels target a wide range of age groups and demographics so will give the company a broad spread of consumer exposure.
The globally-focused business, founded by executives from the Rotary Watches management team, launched its online service to the public only in 2019 and said it ‘speed dates’ consumers with authorised retailers who have the watch they want in stock.
The UKTV deal should put it in front of more than 30 million viewers a month via a 30-second ad.
Investment in the business is clearly a key focus at present because, as well as the UKTV deal, the company also said it has closed a strategic investment funding round from a syndicate of existing shareholders, although it didn’t put a price on the investment. And it has also launched an equity crowdfunding campaign on Seedrs.
CEO Tony Quinn said of all this: “We've spent the last 24 months building and optimising our unique offering. Even before the onslaught of Covid19, the traditional retail industry was going through a seismic shift. Timme-To-Find is future-proofing traditional retailers to take advantage of these changes.
“Structured as a reverse marketplace, it's a disruptive business model which exclusively 'speed dates' consumers with only authorised brand agency retailers who have the watch in stock. We're delighted that UKTV has decided to join us to help spread the word on our exciting journey.”
Meanwhile, Director of UKTV Ventures, Sheena Amin, added: “Working with start-ups is my passion. The team at Time-To-Find have ambitious plans to grow and scale their business and I'm looking forward to partnering with them and raising awareness of their global marketplace platform via the unique brand building power of TV.”
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