Monday, July 22, 2013

RetailMeNot, Started In Oregon, Sees Big IPO

RetailMeNot, an online coupon code and deals site which got its start in Beaverton, Oregon, had a hugely successful IPO Friday, as it debuted on the Nasdaq Stock Market as SALE. The IPO comes thanks to the acquisition of RetailMeNot.com back in 2010 by WhaleShark Media, which adopted RetailMeNot's name and made it the flagship brand of a network of online coupon and deal sites. RetailMeNOt debuted at $21.00 each, and closed at $27.70 per share on Friday. WhaleShark was venture backed by Austin Ventures, Adams Street Partners, Google Ventures, Institutional Venture Partners, J.P. Morgan, and Norwest Venture Partners. It's unclear if the Oregon founders of RetailMeNot gained in the IPO, as the exact mix of stock and cash for that acquisition has not been announced. RetailMeNot is now based in Texas.