Coupons.com, which listed its expected share price at $16 on Thursday, saw its stock nearly double in value, closing at $30, despite larger market trends that saw the Dow Jones Industrials and S&P 500 waver between gains and losses. Coupons.com, which digitized the moribund coupon-clipping world in the 1990s, raised $168 million, far surpassing its stated goal of raising $100 million.
Swagbucks.com, a partner of Coupons.com which offers customer rewards for spending with coupons, says it is bullish on the discount market and thinks there’s still a huge opportunity for consumer deal companies.
“Coupons have been an accepted part of retail culture forever,” says Scott Dudelson, chief operating officer of Swagbucks.com, who adds that consumers searching for discounts in the digital world have become even more entrenched since the recession.
Self-funded through revenue since 2007, however, Dudelson claims Swagbucks.com is profitable and not necessarily interested in a flashy IPO exit.