News Column Plans $100MM IPO

February 1, 2014, IPO, $100 million Inc., the online coupon company, said Friday that it plans to raise up to $100 million by selling shares in an initial public offering.

The Mountain View, Calif.-based company did not say how many shares it plans to sell or how much each one will cost. The amount of money it raises could change.

It plans to use proceeds from the offering for working capital, sales and marketing, and other general corporate purposes.

Through its websites and mobile apps, offers coupons from consumer goods companies and retailers. It makes money when a customer selects or prints a coupon, even if is not used to buy a product. It also makes money through advertising on its websites and when a customer uses a coupon code to buy something online.

In the nine months ended Sept. 30, the company posted revenue growth of 51 percent, to $115.3 million, the company said in a filing with the U.S. Securities and Exchange Commission. It loss narrowed to $12.8 million, or 27 cents per share, from $50.1 million, or $1.28 per share, in the same period of 2012. plans to list its shares on the New York Stock Exchange under the ticker symbol "COUP."

Another online coupon company, RetailMeNot Inc., went public last year. RetailMeNot's shares have jumped 69 percent since its IPO in July.

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Original headline: plans $100 million public offering

Source: Associated Press

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