New Zealand Post seeks investor for social media business

New Zealand Post has said it is now actively looking for an investment partner for its social media platform, Localist. Localist was launched in early 2011, providing consumer-driven reviews of local businesses around its home base in Auckland.

The company also produces five printed guides twice a year.

New Zealand Post pitches the project as allowing consumers to discover the “best things to taste, buy and do around where they live”, while also allowing local businesses to improve their online, mobile and social media presence.

The company said today it has appointed Asia Pacific corporate advisors Grant Samuel & Associates Limited to help find an investment partner and raise capital in order to expand the business across the country.

New Zealand Post said the business had shown “strong growth” during 2012, and that this was the appropriate time in its development to pursue fresh investors.

“Having tested and proven its digital subscription business model in Auckland, Localist is now seeking to expand its geographic footprint, and will be announcing an enhanced range of digital products to the market shortly,” the company said in a statement.

New Zealand Post said it was looking for one or more shareholders to help accelerate the growth of the company. It is expected to take three or four months to find new investors in the business.