Online coupon site Retailmenot expects to earn up to US$200 million in IPO
Retailmenot Inc, an online coupon corporation, wanted to raise about US$200 million in an initial public offering. The IPO was said to price Retailmenot at higher than US$1 billion.
The company stated that it anticipated selling 9.1 million shares. Its value for every share would be between US$20 and US$22.
Retailmenot was backed by Google Ventures and Austin Ventures. It offered digital coupons that came from more than 60,000 retailers and brands.
The company said its profits increased approximately eight fold to US$144.7 million between 2010 and 2012. It listed Google Inc, Yahoo Inc and Facebook Inc as its competitors when it filed for the U.S. Securities and Exchange Commission.
Texas-headquartered Retailmenot was looking at a bigger stock of the client e-commerce market. IDC, a research firm, expected the e-commerce market to grow around 18% from 2012 to 2017.
The profit Retailmenot said it planned to raise was used to compute registration fees. The closing amount of the IPO could vary.