Dive Summary:
- RetailMeNot.com has gone public as shares rose for the company to over 30%, selling a reported 9.1 million shares at roughly $21 each.
- Upon the announcement of the initial IPO, RetailMeNot raised nearly $191 million, boosting the company’s current value to over $1 billion.
- “For RetailMeNot, they’re being a traffic driver to large- scale e-commerce sites and helping consumers find coupons for these sites,” says industry analyst Tom Forte to the Washington Post.
From the article:
... The company, which operates RetailMeNot.com in the U.S. and VoucherCodes.co.uk in the U.K., entered the digital coupon industry in 2009 with a string of acquisitions. Backed by investors such as JPMorgan Chase & Co., Austin Ventures and Google Inc.’s venture-capital arm Google Ventures, RetailMeNot has focused on growing its coupon base through international investment -- picking up sites like Actiepagina.nl in the Netherlands and Deals.com in Germany. ...
