Savings.com

Last updated
Savings.com, Inc.
TypePrivate
IndustryOnline Coupons
Founded2007;14 years ago (2007)
Santa Barbara, California, U.S.
HeadquartersLos Angeles, California, U.S.
Area served
USA
Parent Platinum Equity
Website savings.com

Savings.com is a website that offers coupons and promotional savings, known as "deals," redeemable at nationally recognized merchant web sites and stores. Savings.com sources much of its content from the stores they are affiliated with, members, and their own internal team.

Contents

Savings.com is headquartered in Los Angeles, California.

History

At the time of its purchase in 2003, the savings.com domain sold for $1.9 million and ranked among the top 40 most expensive domains ever sold. [1] The company originally functioned as a lead generation resource in 2004. Savings.com relaunched in its present-day form in 2007, founded by Loren Bendele, Marcus Flemming, Tom Kuljis and Joe Zulli, and made the move to exclusively offer online and offline coupons. [2]

In 2009, Savings.com launched a sister site branded as Savoo.co.uk to serve the voucher code market in the United Kingdom. In 2012, Savoo expanded operations to Germany. Currently, Savoo serves 10 markets, including the United Kingdom, Germany, France, Spain, Italy, Netherlands, Australia, Canada, Brazil, and Mexico. [3]

In June 2012, Cox Target Media announced the acquisition of Savings.com, Savoo.co.uk and Savoo.de for more than $100 million with additional payments over the coming years. [4] [5]

Savings.com expanded into grocery in October 2013, launching Favado, a mobile grocery savings app. [6] In 2015, Savings.com partnered with the technology company Inmar, Inc. to expand its ability to promote consumer packaged goods (CPG) offers. [7]

In November 2014, Savings.com released PriceJump, a price comparison tool. [8]

The global investment firm Platinum Equity acquired the Savings.com and Savoo businesses from Cox Media Group in January 2017. [9] [10]

Centerfield, also owned by Platinum Equity, announced the acquisition of Savings.com in February 2021. [11] [12]

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References

  1. "Most expensive domain names of all time" Business Insider.
  2. "Almost Famous: Savings.com's Loren Bendele" Wall Street Journal.
  3. Savoo.com Savoo.com
  4. "Valpak owner acquires Savings.com" The Atlanta-Journal Constitution.
  5. "Valpak Extends Online Presence with Acquisition of Savings.com" Business Insider.
  6. "Favado’s New App Helps You Find The Best Grocery Deals" TechCrunch.
  7. "Savings.com Gets Closer to CPG Firms with Inmar Deal" PerformanceIN.
  8. "Use this app to get the lowest prices on your holiday shopping" CNN.
  9. "Platinum Equity Buys Marketing Businesses From Cox Enterprises" Wall Street Journal.
  10. "Los Angeles investment firm buys Valpak direct mail business" Tampa Bay Times.
  11. Media, Centerfield (2021-02-02). "Centerfield Acquires Business.com and Savings.com, Expanding its Owned & Operated Digital Brands". GlobeNewswire News Room. Retrieved 2021-03-18.
  12. "Centerfield Buys Business.com and Savings.com" SoCalTech.