Another Austin Startup IPO
Congratulations are in order for the team at RetailMeNot, which just went public as the world’s largest purveyor of e-coupons. It was a big win for Austin Ventures, which is also the VC firm behind such notable companies in Austin as HomeAway, Dachis Group, and the one I used to work for, Lombardi. Also, a big win for the many people at RetailMeNot. And beyond that, it is good for the Austin startup ecosystem to have another public “win”, more liquidity for potential angel investors, and more people in our local economy who are experienced with the process of taking a company public (and scaling the company to that point in the first place).
Interestingly, RetailMeNot has a collection of Trilogy and Lombardi Alumni in the mix. From the ABJ article:
Austin-based RetailMeNot (Nasdaq: SALE), an online coupon supplier, priced 9 million shares of its stock at $21 each on July 19 and watched it rise nearly 32 percent to $27.70 per share by the end of the day. Based on that price, Austin Ventures’ remaining shares are worth about $350 million.
Also: love the ticker symbol.