RetailMeNot Files its IPO Worth An Estimated $230 million

retailmenotRetailMeNot has filed a registration statement with federal regulators for an initial public offering worth an estimated $230 million.
The Austin-based online coupon site, formerly Whale Shark Media, has applied to have its stock listed on the Nasdaq market under the ticket symbol “SALE.”
The company also reports that it is “an “emerging growth company” as that term is used in the Jumpstart Our Business Startups Act of 2012, or JOBS Act, and, as such, will be subject to reduced public company reporting requirements.”
“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the company reported in a news release.
Morgan Stanley & Co., Goldman, Sachs & Co. and Credit Suisse Securities will manage the proposed offering.
RetailMeNot operates the world’s largest digital coupon marketplace and had coupons from more than 60,000 retailers on its site in 2012 and reported 450 million visits to its websites. It also has contracts with more than 10,000 paid retailers.
“In 2013, our marketplace featured more than 500,000 digital coupons in each month,” according to its filing.
Founded in 2009 as Smallponds by CEO Cotter Cunningham, the company has seen its revenue increase from $16.9 million in 2010 to $144.7 million in 2012, representing a 192.9 percent compound annual growth rate. It’s net income also increased from $2.3 million in 2010 to $26 million in 2012. Its growth comes from acquisitions and organic growth. The majority of its revenues come from the U.S. with the rest coming from the United Kingdom, France, Germany and the Netherlands.
The company has 331 full time employees in the U.S., U.K., France, Germany and the Netherlands.
RetailMeNot has received $300 million from several venture capital firms including Austin Ventures, Google Ventures, and Institutional Venture Partners.

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