2.13.2012

WhaleShark Triples Marketing Budget After 2011 Revenue Jumps 50%whale shark

Whaleshark Media Inc., which operates online coupon website, plans to triple its marketing budget this year after the acquisition is to help increase revenue.

Companies of Austin, Texas, sales increased 50 percent in 2011 to about $ 80 million, will increase advertising spending to gain market share online discount, CEO of Cotter Cunningham, 49, said today in an interview. He declined to give details of the advertising budget of the company.

Whale shark, which was established in May 2009 and VoucherCodes.co.uk RetailMeNot.com, the purchase of eight companies and easily add two more in Europe or the United States, said Cunningham. The company has about $ 100 million in cash after raising $ 150 million in private financing from JPMorgan Chase & Co.. And Institutional Venture Partners last year, he said. Whaleshark round worth $ 800 million to $ 1 billion, a person familiar with the situation said last November.

"This is the year to push the gas," says Cunningham. "You will see accelerate. We see revenue growth was reduced significantly, although it has a broader base. "

These companies are usually looking for purchases between $ 10 million and $ 50 million each, said Cunningham.

Whale shark site was visited 300 million times in 2011, conducting approximately $ 1.7 billion purchase of companies such as Wal-Mart Stores Inc.. And Target Corp.. The said Cunningham. The company offers discounts at more than 140,000 merchants and retail stores, according to a statement.

Smaller discount

Whale shark Change in net income in 2011, Cunningham said, without elaborating. And the figures are pro forma revenue growth rate, taking into account the performance of the company has purchased Whaleshark said. Company more than tripled the number of employees in Austin until 110 years ago.

This month, said Kate Sperber Whaleshark hired as vice president of operations. Sperber direct sales strategies before Yahoo! Inc. The company added Tobias Conrad, German Groupon Inc.. Companies to manage operations in the country.

While leaders Groupon online coupons are likely to offer discounts to local businesses, usually give a discount Whaleshark lower for online purchases at national retailers, said Cunningham. Neither the whale shark size Groupon use sales force, he said. Based in Chicago Groupon, which raised $ 805 million in an initial public offering last year, employs over 10,000 people on Sept. 30, said in a regulatory filing.

Whale shark has no immediate plans for further rounds of private fundraising or public offering, said Cunningham.

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