US voucher and deal site BluePromoCode.com has reached a business milestone by clambering above the 100,000 coupon mark.
The California-based business, which is owned by affiliate commerce company ZipfWorks, says it is experiencing a huge period of growth, as more and more shoppers seek out discounts before buying.
Founder and chief executive officer of BluePromoCode, Michael Quoc, today announced that the business, which has just relocated from Los Angeles to a larger location in Santa Monica, has now surpassed 100,000 coupons and 12,000 stores.
Ex Yahoo director of product management, Quoc, who launched the site in October 2011, said these are two ‘significant’ milestones for the business, particularly given the business has been live for less than two years.
Rocketing Web Traffic & Ambition
“The online couponing industry is experiencing tremendous growth as supported by RetailMeNot’s successful IPO and recent major acquisitions in the industry,” Quoc said.
“This milestone and our recent expansion efforts position us to be a major leader in the space in the near future.”
Visitor traffic to the site has more than doubled in 2013 and Quoc said the firm is on track to becoming one of the largest couponing and affiliate sites in the US.
The company has also expanded its engineering and business teams to build on the company’s growth, and a complete website overhaul is expected later this year.
The Might of the Digital Coupon
In its financial results for the second quarter, ended June 30 2013, online coupon powerhouse RetailMeNot, which is now listed on the NASDAQ Stock Market, proved that demand for web coupons was on the up.
For the Q2 period, sales rose by 44% to $43.4 million, beating the $42.2 million average as predicted by analysts.
Mobile revenues totalled $5.0 million, up 272% compared to $1.4 million, and net revenues from international markets totaled $8.6 million – representing 20% of total net revenues.
The business also reported a net loss attributable to shareholders of $999,000, due to costs associated with preferred stock dividends.