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Dot-Com Era Coupons.com Files for IPO. It's About Time

Even without profits, the digital coupon provider hopes to raise $100 million on the public markets.

Dot-com era Coupons.com is hoping its days of clipping, well, coupons is over. The 16-year-old online coupon company today filed for its initial public offering to raise up to $100 million.

The site, founded in 1998, delivers digital coupons from 2,000 brands and more than 700 package-goods companies to consumers on the Web and via mobile phones and social media.

But like fellow newcomer to the public markets, Twitter, which filed for its public offering in November, Coupons.com is not profitable. The move could be a sign of investors' increased willingness to take a chance on other companies that haven't yet posted profits. 

It's also seen significant losses recently. On its S-1 form, it reported a net loss of $12 million for the nine months ended September 30, 2013, a decrease of nearly 75 percent for the same period in 2012. For the full year 2012, it reported a loss of $59 million, a 98 percent increase compared to the full year 2011.

The company's losses come with revenue of $115 million for the first nine months of 2013, about double the revenue for the same period a year earlier. For the full year 2012, Coupons.com reported revenue of $112 million, an increase of 23 percent compared to same period a year earlier. 

Coupons.com was founded by its current president and chief executive officer, Steven R. Boal. He owns about 11 percent of the company, according to the Securities and Exchange Commission filing, and collects a salary of about $450,000.

Coupons.com plans to sell 157 million shares, but by late afternoon Friday it had not listed an opening share price. An internal company valuation performed in November, 2013 determined that common stock at the time would be worth about $10 a share. Using that valuation, the company value would be about $1.5 billion currently.

Coupons.com will list on the New York Stock Exchange under the symbol COUP.  The lead underwriter is Goldman Sachs.

 

 

 

 

 

 

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Last updated: Jan 31, 2014

JEREMY QUITTNER | Staff Writer | Staff Writer, Inc. and Inc.com

Jeremy Quittner is a staff writer for Inc. magazine and Inc.com. He previously covered technology for American Banker and entrepreneurship for BusinessWeek.




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