Thursday, June 21, 2012
Savings.com Acquired By Cox Target Media
Los Angeles-based online coupon and deal site Savings.com has been acuqired by Cox Target Media, Cox announced Thursday afternoon. The deal is worth $100M, plus additional earnout depending on hitting performance targets. The deal includes Savoo.co.uk, and will add Savings.com to Valpak, the provider of those ubiquitous blue coupon envelopes distributed to U.S. households by mail. Cox said the buy "substantially expands" its business across traditional, digital, social and mobile platforms. Cox said that Savings.com has more than 5 million visitors monthly. Loren Bendele, founder of Savings.com, continues on at Savings.com after the acquisition. Savings.com was backed by U.S. Venture Partners and Rustic Canyon Venture Partners, and had raised at least $12.0M in funding.