Rapidly Growing Company Also Announces Expansion into Second Building to Support Growth
Mountain View, CA – January 24, 2011 – Coupons.com Incorporated, the recognized leader in digital coupons, today announced that prominent Silicon Valley investor and entrepreneur David Siminoff has joined the company’s Board of Directors. The company also announced today that it has taken occupancy of a second building near its Mountain View, Calif. headquarters to support its growing business.
“David has shown tremendous strategic vision throughout his career, and his participation as a member of the board will help us to formulate our strategy as we expand our platform into new markets in the future,” said Steven Boal, CEO of Coupons.com Incorporated. “Having grown our headcount by almost 50 percent in 2010 and expecting similar growth in 2011, the second building will support our space needs as we continue to transform the coupon industry and meet the rapidly increasing consumer demand for deals and offers.”
Siminoff Appointment to Help Steer Company’s Continued Success
“David is a widely admired investor, a successful serial entrepreneur and a digital media trail blazer,” said Boal. “We are delighted to add such a respected thought leader to our board and know his advice and guidance will be a tremendous asset in the continued growth of our company.”
“I am excited to be a part of Coupons.com as it continues to transform the multi-billion dollar coupon industry,” said Siminoff. “Well over $1 billion of coupons were issued by Coupons.com in 2010, and with the slow economy, rising food prices and decline of the newspaper industry, I believe that the company is perfectly positioned to continue its rapid growth.”
Siminoff has spent his entire career at the intersection of private and public companies within the technology, media and telecommunications industries, and he is currently chief investment officer and co-portfolio manager at Thompson Peak Capital LLC, an investment advisory firm located in Silicon Valley.
Siminoff began his career at Capital Research and Management, where he worked for a decade alongside legendary media investor Gordon Crawford. Siminoff earned accolades for his investment acumen, especially for early-stage investments he made in America Online, eBay, Yahoo, X.com (which became PayPal), Amazon.com and many other high growth Internet companies.
He has founded or co-founded several companies including Shmoop University, Inc., 4INFO, and EastNet. In 2004, Siminoff was named chief executive officer of Spark Networks. After restoring that company’s financial health, in 2007 Siminoff became a general partner at Venrock, the venture capital arm of the Rockefeller family.
Additional Office Space Needed to Support Current Staff and Expected New Hires
Coupons.com recently took occupancy of an additional 25,700 square feet of new office space at 520 Logue Avenue to support its growing staff. Located within a few hundred feet of its 40,000-square-feet headquarters at 400 Logue Avenue in Mountain View, CA, the additional space can support approximately 125 additional employees.
In 2010, the company grew to more than 270 employees (including over 250 domestic staff as well as 20 international employees through the company’s international affiliate), expanding by almost 50 percent over the year prior. During 2011, the company expects to hire an additional 100 people across the organization, most heavily in engineering, sales and marketing in the U.S. and international markets.
“We expanded our facility a year ago and have already outgrown that expansion. The additional facility will give us the office space we need to support our aggressive hiring plan, which includes new positions across the organization,” said Boal.
Current open positions can be viewed at www.couponsinc.com.
About Coupons.com Incorporated
Coupons.com Incorporated is the recognized leader in digital coupons, including online printable, save to loyalty card and mobile promotions. For consumers, the company’s products include Coupons.com, the 39th largest web site in the U.S. †, as well as Grocery iQ and Coupons.com mobile applications. For brand marketers, the company distributes digital coupons to millions of consumers through Coupons.com and tens of thousands of Web sites comprising the Coupons.com digital coupon network. The company also powers digital coupon initiatives in 1-to-1 online marketing campaigns—including display advertising, email and social media programs. For publishers, the company offers solutions to monetize web site traffic, including branded microsites, and Brandcaster, a self-service coupons syndication platform. Clients include hundreds of top consumer packaged goods brands (including Clorox, General Mills, Johnson & Johnson, Kellogg’s, Kimberly-Clark, and Kraft Foods), leading restaurant, toy and entertainment companies, as well as top retailers (such as A&P, CVS, Duane Reade, H-E-B, Kmart, Kroger, Safeway and Walgreens). Founded in 1998, the company is based in Mountain View, CA. To start printing coupons, visitwww.coupons.com. To learn more about the company visit www.couponsinc.com. Visit Coupons.com on Facebook at www.facebook.com/couponscom.
† Nielsen, July 2011