Online coupon site Retailmenot to raise up to $200 mln in IPO
July 8 (Reuters) - Online coupon company Retailmenot Inc is looking to raise up to $200 million in an initial public offering that may value the company at more than $1 billion.
The company said it expects to sell 9.1 million shares between $20 and $22 per share.
Retailmenot, backed by Google Ventures and Austin Ventures, offers digital coupons from over 60,000 retailers and brands.
The company, which listed Google Inc, Yahoo Inc and Facebook Inc FB.O as rivals in its filing with the U.S. Securities and Exchange Commission, said its revenue rose nearly eight fold to $144.7 million between 2010 and 2012. (Source:)
Texas-based Retailmenot is eyeing a bigger share of the consumer e-commerce market, which research firm IDC expects to grow about 18 percent between 2012 and 2017.
Morgan Stanley, Goldman Sachs and Credit Suisse are the lead underwriters for the offering, the company said in the filing.
Retailmenot plans to list its shares on the Nasdaq under the symbol "SALE".
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
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