March 18, 2011, 9:01 AM

Mobile couponing company Samplesaint lands a $250,000 investment

The company will move to Cincinnati from Chicago and hire 10 employees.

Lead Photo

Samplesaint, a company that provides mobile-couponing technology, plans to move to Cincinnati from Chicago this spring, lured east by a $250,000 investment from an economic development group. The company, which incorporated in 2007 and launched its services in late 2009, plans to hire 10 employees.

Samplesaint offers mobile coupons from retailers and consumer product goods manufacturers. Consumers access the coupons from the conventional or mobile Samplesaint web sites, and then redeem the discounts at checkout in bricks-and-mortar stores. Coupons carry UPC codes, the kinds of bar codes typically found in supermarkets and other stores, and cashiers scan those bar codes at checkout, says Lawrence Griffith, the company’s founder and CEO. He says the company works with several retailers and two consumer goods manufacturers, which he did not name.

“I am looking forward to becoming more active in the terrific consumer marketing industry in Cincinnati,” he says. “With companies such as Procter, Kroger, Macy’s, it is a hub of expertise about the consumer mindset. Samplesaint looks forward to finding its place in that ecosystem.”

CincyTech, a public-private development group, made the investment, and will take an equity stake. A spokeswoman for the group, which acts as a venture capital fund but also receives public money, did not know how big the stake is but adds they are typically 5%.

One reason the group made the investment is because Griffith has experience working for branding agencies and  consumer goods companies, including as a consultant to Procter & Gamble. “We really liked Lawrence’s experience with large-company business development roles and with agencies,” says Bob Coy, president of CincyTech. “His background is key to showing consumer products companies the value of his technology.”

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Will Devlin / E-Commerce

Three simple steps to reducing shopping cart abandonment

Payment options, a shopping cart that holds a customer’s items while she ponders the purchase ...

FPO

Adrien Henni / E-Commerce

eBay and Russian Post accelerate cross-border deliveriies

EBay and Russian Post have signed a memorandum of cooperation aimed at reducing the time ...

Advertisement