Coupons.com Inc. said Greylock Partners invested in the company through a secondary market transaction. The deal was reported at $30 million. The digital coupons startup in June raised $200 million from institutional investors. Greylock is its first venture investor.
Coupons.com Announces Greylock Partners Investment
Company’s Rapid Growth Including Mobile and Social Couponing Solutions to Benefit from Greylock’s Expertise
MOUNTAIN VIEW, Calif., Oct 03, 2011 (BUSINESS WIRE) — Coupons.com Incorporated, the recognized leader in digital coupons, including online printable, social, mobile and loyalty card promotions, today announced an investment by Greylock Partners. Coupons.com, which recently raised $200 million from institutional investors, is transforming the multi-billion dollar coupon industry and accelerating the shift from the newspaper to digital. The investment, a secondary market transaction, will enable the company to tap into Greylock’s expertise as it continues to produce market-transforming couponing solutions, including its mobile- and social-based products and services.
“We are very excited to work with Reid Hoffman and James Slavet and the entire Greylock team,” said Steven Boal, CEO of Coupons.com. “Greylock’s expertise and relationships will prove invaluable as we continue connecting brands with consumers via money-saving offers at every touch-point across the digital landscape–including web, social and mobile–and along the consumer’s entire path to purchase.”
“We’re very pleased with our investment in Coupons.com and are excited about working with the team as they continue to build a substantial, market-defining company,” said Reid Hoffman, Partner at Greylock Partners. “Coupons.com is almost single handedly transforming the multi-billion dollar coupon industry by ushering the newspaper-dominated business to digital. The market opportunity the company faces is immense, and we look forward to contributing in any way to their continued success, particularly in the context of social and mobile solutions.”
Coupons.com powers the vast majority of coupons printed online via a network of tens of thousands of sites in addition to their flagship site, Coupons.com, which is the 39th most trafficked site in the country.+
Coupons.com Incorporated is also the go-to resource for manufacturers wanting to coupon-enable their digital marketing initiatives, and virtually every major consumer packaged goods manufacturer resides on the company’s client roster. The company is aggressively building its team, expanding its full time staff from 288 employees in June to more than 450 expected by the end of the year, a growth of over 50 percent during the six-month period.
In addition to capturing a growing share of the multi-billion dollar newspaper-dominated coupon industry, Coupons.com is also expanding the couponing market by lowering the barriers to entry for companies to offer coupons, enabling smaller manufacturers–which could not place offers in the newspaper insert because of budget requirements or category exclusivity restrictions–to utilize coupons to engage with consumers. In addition, Coupons.com attracts a new demographic of coupon users, who engage with new couponing methods like digital, social and mobile coupons, but typically would not engage with traditional paper coupons.
About Coupons.com Incorporated
Coupons.com Incorporated is the recognized leader in digital coupons, including online printable, save to loyalty card and mobile promotions. For consumers, the company’s products include Coupons.com, the 39th largest website in the U.S. +,as well as Grocery iQ and Coupons.com mobile applications.For brand marketers, the company distributes digital coupons to millions of consumers through Coupons.com and tens of thousands of websites comprising the Coupons.com digital coupon network. The company also powers digital coupon initiatives in 1-to-1 online marketing campaigns–including display advertising, email and social media programs. For publishers, the company offers solutions to monetize website traffic, including branded microsites, and Brandcaster, a self-service coupons syndication platform. Clients include hundreds of top consumer packaged goods brands (including Clorox, General Mills, Johnson & Johnson, Kellogg’s, Kimberly-Clark, and Kraft Foods), leading restaurant, toy and entertainment companies, as well as top retailers (such as A&P, CVS, Duane Reade, H-E-B, Kmart, Kroger, Safeway and Walgreens). Founded in 1998, the company is based in Mountain View, CA. To start printing coupons, visit www.coupons.com . To learn more about the company visit www.couponsinc.com . Visit Coupons.com on Facebook at www.facebook.com/couponscom.
About Greylock Partners
Greylock has partnered with game-changing entrepreneurs to build market-transforming companies since 1965. As founders, operators and investors, we strive to be the best partners for entrepreneurs building disruptive consumer and enterprise software companies. More than 100 partner companies have gone public and more than 100 have achieved successful mergers/acquisitions, including Constant Contact, Data Domain, DoubleClick, LinkedIn, Pandora, Red Hat, Success Factors, and Zipcar. We continue to invest in companies that define new markets, including Airbnb, Apptio, Cloudera, Facebook, Groupon, Imperva, One Kings Lane, Palo Alto Networks, and Workday. For more information about Greylock Partners, visit our Web site ( www.greylock.com ) or blog ( www.greylockvc.com ) or follow us on Facebook ( http://www.facebook.com/greylock ) or Twitter (@GreylockVC).