Friday, October 21, 2011
JMI Equity Boosts CouponCabin.com
San Diego-based JMI Equity is the lead investor in a first round of funding for online coupons site CouponCabin.com, which said Thursday evening that it has raised $54M in a funding round from JMI Equity. According to CouponCabin.com, JMI will hold a minority stake in the firm. CouponCabin is based in Whiting, Indiana, and was founded in 2003. As part of the deal, JMI Equity's Brad Woloson has joined CouponCabin.com's board of directors, which also includes CEO Scott Kluth and Chip Hardt, formerly of McKinsey & Company. CouponCabin.com said it generated more than $500M in online sales for its merchants in 2010.