Google Ventures-backed digital coupon marketplace raises $191m in IPO on Nasdaq, with an initial market capitalisation of approximately $1.05bn.

RetailMeNot, a US-based online digital coupon marketplace, whose investors include Google Ventures, has raised approximately $191m selling 9.1 million shares in its initial public offering on Nasdaq. The shares were sold at $21 each, the mid-point of the $20 – $22 proposed range.  RetailMeNot’s share price rose by as much as 34% on the first day of trading.

Major investors in RetailMeNot, as well as Googe Ventures (5.9%, pre-IPO stake), include venture capital firms Austin Ventures (31.8%) and Norwest Venture Partners (23.7%). 

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