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  • CouponCabin.com raises $54 Million in First Round of Funding

    October 24th, 2011 1 comment

    CouponCabin.com, the Whiting, Ind. – based online company providing discount coupons for online users, has recently announced the end of its first round of funding which has brought the company the amount of $54 million. This funding round has been led by JMI Equity, a growth equity firm which focuses on investments in leading software and internet companies. After this round of funding, JMI Equity is going to hold a minority stake in the company.

    The money raised in this round of funding is intended to be used in order for the company to deepen its content position, to expand its consumer bases and to put the company directly on the first place of the online coupon selling companies top. As the company states, the main difference between CouponCabin.com and other firms focused on the same activity field is that CouponCabin.com has a “stringent coupon testing policy on the site” and that the company is committed to providing a “one-stop-shop for savings and exclusive coupon content”. In order to secure the coupon codes and deals, the company works directly with the retail merchants, trying, in the same time, to provide exclusive deals for their customers. The site has been founded in the year 2003, when it collaborated only with 150 stores and provided only 1.000 coupons. At the moment, the company collaborates with more than 3.500 stores and offers more than 100.000 coupons a year.

    Scott Kluth, the founder and the CEO of the company, stated the following: “We are thrilled to continue our rapid growth with the support of such a well-respected and experienced firm like JMI Equity. Among other initiatives, this investment will enable us to grow our local, grocery and printable coupon offerings, making us the deepest and broadest consumer destination for coupons on the web. This investment will also help us better engage with more than one million fans on Facebook. We look forward to a successful relationship with JMI Equity and the benefits its industry expertise will afford CouponCabin.”

    As a result of this round of funding, a new board of directors has been founded, which includes Kluth, Brad Woloson, the General Partner at JMI Equity, and Chip Hardt, the former Principal at McKinsey & Company.

    Brad Woloson, the General Partner at JMI Equity, stated the following: “Scott has done an incredible job of building this company from the ground up, and we believe CouponCabin has the potential to be the leader in the broader coupon market, not just in the online code segment. CouponCabin is committed to helping people save money by offering the highest quality coupons that are guaranteed to work. By continuing to add more retailers to its already extensive network, CouponCabin will be able to offer its customers even more money-saving opportunities.”

    This is the second incredible funding deal in this field of activity in the previous month, as only just a few weeks ago Coupons.com have raised over $30 Million from Greylock Partners. It seems that this type of business is very important on the investing market at the moment as more and more users are using the deals offered by this type of sites.

 

1 responses to “CouponCabin.com raises $54 Million in First Round of Funding” RSS icon

  • please am looking for afunder whom i want to agree with before funding me and i need 30000dollars to start


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