RetailMeNot Inc (SALE) Jumps Over 30% On First Day Of Trading
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
RetailMeNot Inc (NASDAQ:SALE) is a website that has online coupon deals for over 60,000 retailers and brands. The company went public yesterday and the stock price closed up $6.70 to $27.70, which is up 31.9%. After surging in trading, RetailMeNot raised $191 million. The market valuation of the company is now $1.39 billion. Based in Austin, Texas, RetailMeNot and shareholders sold 9.1 million shares at $21 each. The $21 sale was at the midrange after offering shares at $20 and $22 apiece.