Coupons.com (COUP) Surges +87.5% on First Day
Shares of Coupons.com (COUP) closed up +14.00 or +87.5 percent to $30.00 per share on Friday after the company had their Initial Public Offering. The company had originally priced the offering at $12-$15 per share in their initial filings to go public in October, but raised the offering price to $16 per share. The company sold a total of 10.5 million shares and raised $168 million.
Mountain View, California based Coupons.com Inc. was founded in 1998 by Stephen Boal, Chairman and Chief Executive. Much like competitor Groupon (GRPN
), the company is a digital promotion platform offering free printable coupons for businesses such as retailers, large restaurants, entertainment companies to name only a few. The company also offers coupon codes to consumers and display advertising for retailers. More than 700 consumer packaged goods firms use Coupons.comâ s platform. The companyâ s original stock sale at $16 per share valued the company at $1.2 billion. With the additional $16 surge in the stock price, the companyâ s market cap exceeds $2 billion. Shares opened Friday at $27.15 per share and soon traded as high as $33.00 before finally settling at $30 per share. CEO and founder Stephen Boal and his wife were at the opening bell ceremonies Friday at the New York Stock Exchange, which marked the companyâ s IPO. He stated that, â
Published on Mar 10, 2014
By Jay Hawk