Technology

Coupons.com receives $200 mn funding

MUMBAI: Coupons.com Inc. has said that it received a $200 million infusion from institutional investors that would be used to fund its growth as coupons migrate along with readers from print to digital media. It didn‘t disclose the names of the investors.
 
"As newspaper readership continues to decline and more consumers are looking online for savings, digital coupons are gaining significant momentum, transforming an industry and offering consumers innovative options to save on the more than half a trillion dollars spent on grocery items alone in the U.S. every year," chief executive Steven Boal said.


One of the largest providers of digital coupons, the fastest growing segment of the coupon industry, the company includes Coupons.com, as well as mobile applications for the site and Grocery iQ. 
 
The company‘s clients include major consumer-goods and retail brands such as Johnson & Johnson (JNJ), Walgreen Co. (WAG) and Kraft Foods Inc. (KFT). The company plans to expand its staff by more than a third this year, grow internationally and make acquisitions.

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