Jason Calacanis Joins Board For Savings.com

Savings.com is a couple website that recently redesigned and hired Mahalo CEO and co-founder of Weblogs Inc. Jason Calacanis.  “They’ve broken $10 million in revenue after just a couple of years,” stated Calacanis, “and are crushing it in the deals space. Obviously this is a great place to be in a recession.”

Savings.com redesigned their website to make their services more social.  After saving money on a deal, users can share the deals with their friends.  There are coupons available across 3,400 different merchants.

Coupons are available for stores such as the Gap and Restoration Hardware.  There is also tickets for the San Diego Zoo.  The coupon search engine is available for categories broken down by brands and stores.  Each coupon deal can be voted up and commented on.  Deals can be shared through Twitter, Facebook, Digg, Delicious, Reddit, and e-mail.

Savings.com CEO Loren Bendele said that he expects the company to make about $10 million in revenues.  The service also expects to help bring in about $200 million for participating retailers.  Savings.com has raised about $6 million in capital from angel investors and several venture capitalists.  The most recent funding round was provided by U.S. Ventures and took place in October 2008.

[via TechCrunch]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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