Monday, July 22, 2013

RetailMeNot IPO A Huge Hit

The IPO of Austin-based RetailMeNot was a huge hit Friday, with shares of the company closing at $27.70 per share, well above the company's initial offering price of $21.00 each. RetailMeNot raised $191M in the offering, which makes the company a publicly traded stock on the Nasdaq Stock Market. The company is now trading as SALE. The IPO is a huge win for backer Austin Ventures, along with its other investors, Adams Street Partners, Google Ventures, Institutional Venture Partners, J.P. Morgan, and Norwest Venture Partners.