Big news in the couponing world usually comes from the US. Whether its Coupons.com getting a large funding round, Whaleshark buying Retailmenot in 2010, Whaleshark getting about $300 million in funding to date, Whaleshark changing their name to Retailmenot Inc and now Retailmenot filing for an IPO.
RetailMeNot is, according to them,the world’s largest digital coupon marketplace. The proposed maximum offering price is $230 million and the stock symbol will be “SALE”, listed on the NASDAQ.
RetailMeNot, Inc. experienced more than 450 million consumer visits to its sites in 2012. They have relationships with over 60,000 retailers, its coupon app has been downloaded over 5 million times and mobile counts for 20% of their traffic. They also brought in $113.4 million in net revenue in 2012 and, so far, in the first quarter of 2013, they have produced $40 million.
How does this impact Canada?
- They operate www.retailmenot.ca
- With a large and well funded player like Retailmenot inc, it can produce initiatives in Canada that other can’t or won’t but are absolutely needed in this country.
- Their power and presence in Canada may convince far more retailers in Canada to provide digital coupons. Right now, Canada is far behind other countries in the availability of digital coupons from retailers across the country.
- There are growth and consolidation opportunities in Canada and acquisitions makes sense for a company like Retailmenot.
RetailMeNot stated that with the funds raised by going public, they intend to increase traffic and monetization, growth of paid relationships with retailers, invest in technology and innovation, expand internationally, and pursue strategic acquisitions.
We would certainly be able to help the executive team at Retailmenot with any expansion/acquisition plans they may have in Canada.