A Seattle-based startup, Seattle Cut Media, said Tuesday that it has raised $5M in a venture capital funding round, to launch its new service, Cut.com. Cut.com is an online site which searches Facebook pages, Twitter feeds, deal sites, email newsletters, and a slew of other sources for coupons and deals. Source and timing of the funding was not announced by Seattle Cut Media.
According to Cut.com, it is monitoring more than 30,000 sources for coupons and deals, using algorithms to help users find useful coupons; the company said it has partnerships with 2,500 retailers and pulls deals from 10,000 retailers, and is using its algorithm to filter, sort, and prioritize those deals.
The company says its operations are headed by Wing Yew Lum, who was formerly Director of Global Initiatives & Development at Expedia.More information »