The march of the 2014 initial public offerings commences, with the latest one of the oldest brands on the internet. Coupons.com has just filed papers with the SEC for an IPO on the NYSE, trading under the name COUP, and raising $100 million.
The move was long anticipated, most recently with Paul Sloan jumping from his position as editor-in-chief at CNET to take up head of communications to lead the effort.
First established as a site for newspaper coupons, more recently the company has been trying to convert its brand recognition into a business fit for a more social and mobile age. In December Coupons.com acquired Yub for $30 million to add loyalty networks to its service and position itself as a better bridge between offline and online commerce. In March 2013, it acquired KitchMe, a Pinterest-like recipe service.
Founded in 1998, Coupons.com has raised some $277 million in venture funding but it is a loss-making business. During the nine months ended September 30, 2013, the company says, it generated revenues of $115.3 million, growing 51% compared to the same period in 2012 but at a net loss of $12.8 million. That net loss was a decrease of 75% over the same period in 2012, the company says.
The news comes a day after Box reportedly filed a “secret” IPO.
More to come.
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