RetailMeNot Raises $191 Million In U.S. IPO

Posted Jul 19, 2013

RetailMeNot Inc. is an online coupons that offers deals from over 60,000 retailers and brands.  The company has raised $191 million in their U.S. initial public offering (IPO) as their shares were priced at the midpoint of the range.  Based in Austin, Texas, RetailMeNot’s shareholders have sold 9.1 million shares for $21 each.  They were offered between $20 and $22 per share.  Those shares account for 18% of the company’s outstanding stock.  RetailMeNot will trade on the Nasdaq under the symbol “SALE.”  RetailMeNot operates under in the U.S. and in the U.K.

Venture capital firms that invested in RetailMeNot include JPMorgan Chase, Google, and Austin Ventures.  RetailMeNot acquired international coupon websites like in the Netherlands and in Germany.

RetailMeNot’s net income increased over ten-fold from 2010 to $26 million in 2012.  RetailMeNot will use the proceeds from the offering to fund over $52 million in unpaid dividends for shareholders.  The IPO was led by Morgan Stanley, Goldman Sachs Group Inc., and Credit Suisse Group AG.