The TV and web retailer will bring its e-commerce and video programming to France in 2015. QVC already sells in Germany, Italy and the ...
Web discounts provider Coupons.com files for an initial public offering
The company says its services are used by retailers that operate more than 58,000 bricks-and-mortar stores.
Coupons.com is going public.
The digital discounts provider on Friday filed for an initial public offering of stock. Coupons.com did not disclose an initial offering price for its shares, which will sell on the New York Stock Exchange.
Coupons.com—like Twitter, which recently went public—is growing quickly but is not profitable. In an S-1 document filed with the U.S. Securities and Exchange Commission, the company disclosed that during the nine months ended Sept. 30, 2013, it generated revenue of $115.3 million, a 51.1% gain compared to $76.3 million in revenue during the same period a year earlier. For the nine months ended Sept. 30 the company had at a net loss of $12.8 million. That compares to $50.5 million loss during the same period in 2012.
The company notes in the filing that in the first nine months of 2013, its revenue stemmed from roughly 940 million transactions in which consumers selected a coupon or redeemed a coupon code through Coupons.com’s platform, a 49% jump from a year earlier.
Looking at Coupons.com’s previous years’ figures shows the company has struggled to turn a profit. It generated $112.1 million in sales in 2012, up 23% from $91.3 million in 2011, but with a $59.2 million net loss. It posted a nearly $23 million loss in 2011.
Coupons.com delivers digital coupons on the web from retailers that operate more than 58,000 bricks-and-mortar stores, such as Walgreen Co., No. 36 in the Internet Retailer 2013 Top 500 Guide. It also works with other companies to deliver coupons to shoppers on mobile devices and social media sites. It had 17 million monthly unique visitors on average across Coupons.com and affiliated sites last year. Consumers have downloaded its mobile apps about 7 million times.
Coupons are a big business, the company notes in the filing. It says that 305 billion total coupons were distributed in 2012 and 2.9 billion were redeemed “representing an aggregate discount value of $3.7 billion.”
Coupons.com listed Goldman, Sachs & Co., Allen & Company LLC, BofA Merrill Lynch and RBC Capital Markets as the underwriters on the filing.