WhaleShark Media changes name, buys Dutch coupon company

Reuters News
Posted: Mar 12, 2013 7:02 AM

AUSTIN, Texas (Reuters) - Online coupon company WhaleShark Media said it was changing its name to RetailMeNot and acquiring the leading online coupon site in Holland, Actiepangina.nl.

The acquisition marks RetailMeNot's fourth in Europe, in addition to online-coupon companies VoucherCodes in the United Kingdom; Poulpeo in France; and Deals.com in Germany.

The company did not disclose the dollar amount of the latest deal, but a person familiar with the matter said Actiepangina cost under $10 million.

Bankers consider RetailMeNot a likely initial public offering candidate for late 2013.

Unlike companies like Groupon, known for working with small companies to provide one-off discounts, RetailMeNot works with larger companies to create online coupons that give smaller discounts, but more regularly. The model is closer to the traditional clipped coupon.

(Reporting By Sarah McBride; editing by Andrew Hay and Bob Burgdorfer)