01.
Executive summary and key findings
02.
Media-for-equity global landscape
03.
Media-for-equity investments
04.
Future outlook

What3words is a mapping technology startup that creates a proprietary geocode system for logistics firms.

What3words is the simplest way to talk about location. It has divided the world into 3m x 3m squares, each with a unique three-word address. Now people can refer to any precise location – a delivery entrance, a picnic spot, or a drone landing point – using just three simple words (12).
Founder
Chris Sheldrick, Jack Waley-Cohen, Mohan Ganesalingam, Michael Dent
Founding date
2013
Location
London, UK
MFE investor
Channel 4 Ventures, ITV AdVentures, Brand Capital International, SevenVentures, German Media Pool VC
Investment amount
$90mn+ in media investments
Investment year
2020, 2021, 2022
New market
UK, India, Germany
Timeline
2020, 2021, 2022

Objectives

Brand Awareness;
Revenue Growth;
Market Share;
Establish Trust.

The investments were targeted to help raise awareness of the global addressing system, that is making headlines around the world for saving lives. Part of that awareness is directed towards the B2C model and part to the B2B model. Increasing the number of app downloads, and in meanwhile attracting strategic business partners in the automotive industry and government organisations.

Brand Awareness:

Revenue Growth

Outcomes

In March 2020, what3words was hitting the low of the year in website traffic, approximately 265k of visitors. Since then the company has successfully partnered with multiple media groups, signing media for equity deals and deploying media campaigns, and as a result of that we can see a correlation in website traffic. 

Today, the website is getting approximately 1.4mn visitors on a monthly basis. That is a 6x fold increase in website traffic across two years, in comparison to an average of approximately 280k per month between 2014 and 2020. 

What3words is being used today by businesses and governments to operate more efficiently and by individuals to find and share locations. Over 650 companies, government organizations, and NGOs in more than 170+ countries, including some of the most rural areas in South Africa and Asia, use three-word addresses.
“Implementation of a media-for-equity deal doesn’t relate only to advertising. It also means mentorship, access to know-how, and if done right, higher market share.”
- Chris Sheldrick, CEO and Co-founder, what3words
Previous case study
Next case study