Koopedia began as a startup based out of Atlanta, Georgia founded by CB Smithwick and Thomas Wright. It focused on helping small business owners start, grow, and expand their companies through hyper-local marketing. Similar to most daily deal sites, Koopedia did this through promotions on behalf of the businesses. The main difference was the amount the business owners paid for the service – zero. Instead, the consumers paid a small transaction fee when they purchased the deals. Other daily deal companies charged the business owner up to 95% of the revenue from the promotion.
Koopedia experienced amazing growth and success. So much that they were featured in Techcrunch. See the article here – https://techcrunch.com/2012/11/29/koopedia-daily-deals/
CB eventually bought out his partner, Thomas, and became sole owner of the company in 2013.
After making a lot of noise in the daily deal world, Koopedia was approached by a leader in the space with an offer to purchase its intellectual property. The deal was executed after careful consideration and some back-and-forth negotiations. The time was right to move forward with what Koopedia was to ultimately become and get back to their roots of helping small businesses. The best way Koopedia found to truly help these small businesses was to take the immense knowledge and experience acquired from working with some of the world’s largest companies and make it affordable.
Fast forward to 2018, Koopedia was transitioned to a holding and investment company that acquired Atlanta based Wray & Company. The main strategic reason was to acqui-hire Stephen Wray – a Georgia Tech whizkid that was making considerable waves in the tech world. CB and Stephen hit it off immediately and set forth to find a way to work together. They combined their two companies to form Smithwick & Wray, a digital engineering and marketing firm.