(Corrects paragraph 10 to say revenue rose 51 pct to $115.3
mln, and not 66 pct to $77.4 mln)
Jan 31 Online coupon company Coupons.com Inc
filed with U.S. regulators to raise up to $100 million in an
initial public offering of its common stock.
The company provides digital coupons and makes money when a
customer downloads a coupon for redemption at a grocer or a
Coupons.com is backed by asset manager T. Rowe Price Group
Inc and investment firm Passport Ventures LLC. T. Rowe
Price holds about 12 percent stake, while Passport Ventures owns
about 23 percent.
Goldman Sachs, Allen & Co, BofA Merrill Lynch and RBC
Capital were underwriting the IPO, the company told the U.S
Securities and Exchange Commission in a preliminary prospectus
on Friday. (link.reuters.com/jun56v)
Coupons.com, founded in 1998, intends to list its common
stock on the New York Stock Exchange under the symbol "COUP".
The filing did not reveal how many shares the company
planned to sell or their expected price.
Shares of RetailMeNot Inc, which also sells online
coupons, have risen about 70 percent since their debut in July.
The consumer e-commerce market is projected to more than
double to 1.9 billion users between 2012 and 2017, according to
market research firm IDC.
Net proceeds from the offering would be used for working
capital and general corporate purposes, Mountain View,
California-based Coupons.com said in the filing.
The company's net loss narrowed to $12.8 million for the
nine months ended Sept. 30, from $50.1 million a year earlier.
Revenue rose 51 percent to $115.3 million.
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.
(Reporting by Avik Das in Bangalore)