Not a good business plan...
Tuesday August 28 11:38 PM ET
Internet-Based Coupon Start-Up Save.com Folds
LOS ANGELES (Reuters) - Online coupon company Save.com on Tuesday said it is ceasing operations effective immediately because it was unable to secure funding and attract a large enough number of advertisers.
Los Angeles-based Save.com launched one of the first Internet-based coupon programs in September 1999, which required registering through its Web site, printing coupons at home from the Web site and then redeeming them at stores.
The company's largest shareholder was marketing company Livonia, Mich.-headquartered Valassis Communications Inc. (NYSE:VCI - news), which provides newspaper-delivered co-op and specialty inserts, advertising, product sampling, direct mail, on-line promotions, loyalty marketing programs and consulting.
Suzie Brown, a former vice president of Internet and e-commerce services at Valassis, joined Save.com as its chief executive in November, succeeding its founder Bruce Ettinger.
Save.com has joined the growing list of dot-com failures.
According to Webmergers.com, a San Francisco-based online hub for buyers and sellers of Internet companies that tracks dot-com failures, 32 Internet companies failed in July, bringing their total to 367 from the start of the year and 592 since the start of January 2000. |
